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2. Amold, Beverly, and Carolyn are partners who share profits and losses 40:40:20. respectively, after Beverly, who manages the partnership, receives a bonus of 10

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2. Amold, Beverly, and Carolyn are partners who share profits and losses 40:40:20. respectively, after Beverly, who manages the partnership, receives a bonus of 10 percent of income, net of the bonus. Partnership income for the year is $198.000 Required: Prepare a schedule to allocate partnership income to Arnold, Beverly, and Carolyn. 3. The partnershin armour 3. The partnership agreement of Dan, Hen, and Bai provides that profits are to be divided as follows: Bai receives a salary of $24,000, and Hen receives a salary of $18,000 for time spent in the business. All partners receive 10 percent interest on average capital balances. Remaining profits and losses are divided equally among the three partners. On January 1, 2011, the capital balances were Dan, $200,000; Hen, $160,000; and Bai, $150,000. Dan invested an additional $40,000 on July 1 and withdrew $40,000 on October 1. Hen and Bai had drawings of $18,000 each during the year. Required: Prepare a schedule to allocate partnership net income of $28,000 for 2011

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