1) Scott, Hill and Carter have capital balances of OMR 20,000, OMR 40,000 and OMR 80,000. The partners share profit as 1:1:3. The Partnership had net income of OMR 100,000 for the year. Journalize the closing entry to allocate the net income. 2) Parker has OMR 40,000 capital and Flores has OMR 20,000 capital in the Parker and Flores partnership. Parker and Flores hare profits and losses equally. Ray contributes cash of OMR 30,000 to acquire a 25% interest in the new partnership. Journalize the partnership receipt of the OMR 30,000 from Ray. 3) Cooper, Kelly and Richardson each have a capital balance of OMR 100,000. Kelly is retiring from the partnership. The profit and loss sharing ratio is 1:2:1. Journalize the payment of OMR 120,000 to Kelly up on retirement 4) The Bennett and Cruz partnership has decided to liquidate. After selling its non cash assets and paying of its liabilities. The partnership has cash of OMR 50,000. Bennett and Cruz capital accounts are OMR 20,000 and 30,000, respectively. Bennett and Cruz share profits 1:5. Calculate the final distribution of cash to the partners. 1000