A partnership began its first year of operations with the following capital balances: Young, Capital: 104,000 Thurman, Capital: 26,000 with 13,000 per year added each year. Assume that the net loss for the first year of operations was 52,000. Assume further that each partner withdrew the maximum amount from the business each year. a. What was Young's share of income or loss for the first year?bWhat was Thurman's share of income or loss for the first year?Thurman has to invest an additional $13,000 per year so the % will change annually.

The partners of Apple, Bereand Carroll LLP share net income and losses in a 5:3:2 ratio, respectively. The capital account balances on January 1, 2008, were as follows:Apple Capital - 125,000, Bere Captal 75,000, andCarroll Capital - $50,000The carrying amounts of the assets and liabilities of the partnership are the same as their current fair values. Dorr will be admitted to the partnership with a 20% capital interest and a 20% share of net income and losses in exchange for a cash investment. The amount of cash that Dorr should invest in the partnership is: