At the end of its first year of operations on December 31, 2022, Blossom Company's accounts show the following. Partner Art Niensted Greg Bolen Krista Sayler (a) Drawings Capital $18,400 $38,400 11,200 1. 8,000 24,000 The capital balance represents each partner's initial capital investment. Therefore, net income or pet loss for 2022 has not been closed to the partners' capital accounts. 20,000 Your answer is partially correct. Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Net income is $24,000. Income is shared 6:3:1. SUP

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G. Bolen, Capital 7200 K: Sayler,Capital 2. Income Summary 32000 A. Niensted, Capital C. Elolen, Capital K. Sower, Capital 3. (c) - Your answer is partially correct. Prepare a partners' capital statement for the year under assumption (3) above. (List items that increase partners capital first.) Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. Net income is $24,000. Income is shared 6:3:1. 2. Net income is $32,000. Niensted and Bolen are glven salary allowances of $12,000 and $8,000, respectively. The remainder is shared equally. 3. Net income is $15,200. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $12.000 salary allowance. The remainder is shared equally. Prepare aschedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with o negative sign preceding the number e.g. 15,000 or parenthesis e.g. (15,000). At the end of its first year of operations on December 31,2022, Blossom Company's accounts show the following. The capital balance represents each partner's initial capital investment. Therefore, net income or pet loss for 2022 has not been closed to the partners' capital accounts. (a) Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are outomatically indented when amount is entered. Do not indent manually.) 1. Net income is $24,000. Income is shared 6:3:1