4) Red, Blue, and Green formed a partnership on January 1, 2020, and made capital contributions of $125,000 (Red), $175,000 (Blue), and $250,000 (Green), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the partners beginning capital balance for the year; (2) annual compensation of $15,000 to Blue; and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a) 20% for Red; (b) 40% for Blue; and (c) 40% for Green. Net income was $200,000 in 2020 and $240,000 in 2021. Each partner withdrew $1,500 for personal use every month during 2020 and 2021.

What was the amount of interest attributed to Blue in the income distribution for 2021?

Group of answer choices

$25,950.

$17,500.

$17,450.

$20,750.

$24,150.

5) Red, Blue, and Green formed a partnership on January 1, 2020, and made capital contributions of $125,000 (Red), $175,000 (Blue), and $250,000 (Green), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the partners beginning capital balance for the year; (2) annual compensation of $15,000 to Blue; and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a) 20% for Red; (b) 40% for Blue; and (c) 40% for Green. Net income was $200,000 in 2020 and $240,000 in 2021. Each partner withdrew $1,500 for personal use every month during 2020 and 2021.

What was Reds total share of net income for 2021?

Group of answer choices

$62,550.

$48,000.

$45,630.

$31,080.

$60,630.

6) A partnership began its first year of operations with the following capital balances:

Anna, Capital $ 143,000

Kate, Capital $ 104,000

Grace, Capital $ 143,000

The Articles of Partnership stipulated that profits and losses be assigned in the following manner:

Anna was to be awarded an annual salary of $26,000 and a $13,000 salary was to be awarded to Grace.

Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year.

The remainder was to be assigned on a 5:2:3 basis to Anna, Kate, and Grace, respectively.

Each partner withdrew $13,000 per year.

Assume that the net loss for the first year of operations was $26,000 with a net income of $52,000 in the second year.

What was Grace's total share of net loss for the first year?

Group of answer choices

$11,700 loss.

$10,400 loss.

$3,900 loss.

$24,700 loss.

$9,100 loss.