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2. Alfredo and Befoe formed a partnership, with Alfredo investing $30,000 and Beloe investing $40,000. Prepare joumal entries for each of the following Independent animations
2. Alfredo and Befoe formed a partnership, with Alfredo investing $30,000 and Beloe investing $40,000. Prepare joumal entries for each of the following Independent animations regarding distribution on net income (loss) in the first year. a. Net income - $50,000. Nothing stated conceming distribution, b. Net income - $60,000. Divided 60% to 40% c. Net loss - ($30,000). Alfredo is to receive a salary of $12,000 and Befoe is to receive $9,000. Stated ratio is 1:1. d. Net income - $20,000. Interest rate of 10% on beginning balances. Stated ratio is 3:1. e. Net income - $50,000. Alfredo is to receive a salary of $20,000 and Befoe is to receive $10,000. Interest on beginning balances of 10%. Stated ratio is 1:1
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