Question
Guzman, Ozma and Alma formed a partnership on January 1, 2021. Beginning Capital balances are: Guzman $40,000, Ozma $60,000, and Alma $110,000. Compute the
Guzman, Ozma and Alma formed a partnership on January 1, 2021. Beginning Capital balances are: Guzman $40,000, Ozma $60,000, and Alma $110,000. Compute the partners' capital balances at the end of 2021 under the following independent conditions. Question 37 (1 point) Net Income is $95,000 and the income ratio is 3:2:1, respectively. Round to the nearest dollar. Calculate Guzman's share of the net income. Question 38 (1 point) Net Income is $95,000 and the income ratio is 3:2:1, respectively. Round to the nearest dollar. Calculate Ozma's share of net income.
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