Acme, Mortel, and Brown have capital balances of $24,000, $36,000, and $50,000, respectively. The partners share profits and losses as follows a. The first $30,000 is divided based on the partners' capital balances. b. The next $30,000 is based on service, shared equally by Acme and Brown. Montel does not receive a salary allowance. c. The remainder is divided equally Read the requirements Requirement 1. Compute each partner's share of the $78,000 net income for the year. (Complete all answer boxes. For amounts that are 50, make sure to enter "0" in the appropriate colume) Net income (loss) Capital allocation Acme Mantel Brown Salary allowance: Acme Montal Brown Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally Ame Montel Brown Acme Montal Brown Total Requirements 1. Compute each partner's share of the $78,000 net income for the year. 2. Journalize the closing entry to allocate net income for the year. Print Done Acme, Mortel, and Brown have capital balances of $24,000, $36,000, and $50,000, respectively. The partners share profits and losses as follows a. The first $30,000 is divided based on the partners' capital balances. b. The next $30,000 is based on service, shared equally by Acme and Brown. Montel does not receive a salary allowance. c. The remainder is divided equally Read the requirements Requirement 1. Compute each partner's share of the $78,000 net income for the year. (Complete all answer boxes. For amounts that are 50, make sure to enter "0" in the appropriate colume) Net income (loss) Capital allocation Acme Mantel Brown Salary allowance: Acme Montal Brown Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally Ame Montel Brown Acme Montal Brown Total Requirements 1. Compute each partner's share of the $78,000 net income for the year. 2. Journalize the closing entry to allocate net income for the year. Print Done Acme, Montel, and Brown have capital balances of $24,000, $36,000, and $60,000, respectively. The partners share profits and losses as follows: a. The first $30,000 is divided based on the partners' capital balances. b. The next $30,000 is based on service, shared equally by Acme and Brown. Montel does not receive a salary allowance. c. The remainder is divided equally. Read the requirements. Net income (loss) Capital allocation: Acme Montel Brown Salary allowance: Acme Montel Brown Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally: Acme Montel Brown Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners Requirements 1. Compute each partner's share of the 2. Journalize the closing entry to allocat Print