89. Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $203,000, and Atkins' beginning partnership capital balance for the current year is $351,000. The partnership had net income of $107,000 for the year. Barber withdrew $53,000 during the year and Atkins withdrew $25,000. What is Barber's return on equity?

89B. Wallace and Simpson formed a partnership with Wallace contributing $60,000 and Simpson contributing $40,000. Their partnership agreement calls for the income (loss) division to be based on the ratio of capital investments. The partnership had income of $120,000 for its first year of operation. When the Income Summary is closed, the journal entry to allocate partner income is: (Do not round intermediate calculations.)

89C. Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $600 cash, $1,900 equipment and a $500 note payable reflecting a bank loan for the new business. Plant's initial investment is cash of $3,000. These amounts are the values agreed on by both partners. The journal entry to record Plant's investment is: