ACCT2 Financial question 7 and 8

. 1500 07:31 on their service to the partners, and any remaining likely amount to be allocated equally REQUIRED . If the partnership profit before any allocation is 5660000 how much will be allocated to each partner? b If the partnership had a profit of $372000 before any allocation, how much would be allocated to each partner? If the partnership had a loss of $420000 before any 1000 allocation, how much would be allocated to each partner? 4000 7 Admission of a new partner 000 Peter and Paul are partners, they share profits and losses equally. Their capital balances are $19200 and 513200 respectively. They admit Mary to a 25 per cent share of the both partnership REQUIRED Prepare the journal entry or entries it Mary pays $10800 to become a partner Di sole b Prepare the journal entry or entries if Mary pays $12800 w to become a partnet d cash Prepare the journal entry or entries if Mary pays $3800 SIOR to become a partner aft of 20 8 Withdrawal of a partner Lucy's Nguyen, Tran and Le are partners sharing profits and losses obts equally and with capital balances of $225. 5675 and $450 respectively. Tran decides to leave the partnership and go into business on her own both REQUIRED Prepare the journal entries to record the retirement of Tran if she is allowed to take $675 in cash at - cc, cat, clear pr. "SUPER Bremen 17 $ $3000000. Other assets are cash, $378000, accounts receivable, $858000 and office equipment $1200000 with accumulated depreciation of $210 000. Li also has a loan from the bank of $1455000 and accounts payable of $330000. Before Zhiji Yang enters the partnership an independent valuation has all assets and liabilities at current carrying amount except the apartment block that has a current market value of $6336000. For a one-half share of the new partnership Yang will put in cash equal to the net assets Lihas in the current business REQUIRED Prepare the journal entries for the entry of both partners into the partnership 12 Distribution of profits Lara and Matthew are partners. They share profits 2/3 Lara 1/3 Matthew call figures in thousands) - Capital is foedar $540 and $360, respectively. Interest is calculated on partners' drawings, advances and capital at 6 per cent per annum ng of