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eztomheducationcom C I o L E] 'EJ Chapter 12 Homework 0 Saved Help Save 3. Exit Submit Check my work Ramer and Knox began a partnership by investing $60,000 and $90,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,000 to Ramer and $40,000 to Knox. 10% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) 10 points Required: 1. Determine each partner's share given a rst-year net income of $98,800. 2. Determine each partner's share given a rst-year net loss of $16,800. eBk Complete thll question by entering your answers In the tab: below. H'm Required 1 Required 2 5 Determine each partner's share given a rst-year net income of $98,800. Print ii References Net Income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners Required 2 > M: Ill 5'\" ezto.mheducation.com C Rings - Page 3 - Love St... h Hulu | Watch M HBO Max 50+ GIFT IDEAS FOR H... Syllabus-2: PRINCIPLES... Topic: DQ 9 M Connect + Chapter 12 Homework i Saved Help Save & Exit Submit Check my work 2 Ramer and Knox began a partnership by investing $60,000 and $90,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,000 to Ramer and $40,000 to Knox, 10% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) 10 points Required: 1. Determine each partner's share given a first-year net income of $98,800. 2. Determine each partner's share given a first-year net loss of $16,800. eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Determine each partner's share given a first-year net loss of $16,800. Print Allocation of Partnership Income n Ramer Knox Total References Net Income (loss) $ (16,800) Salary allowances $ 50,000 $ 40,000 90,000 Balance of income (loss) Interest allowances 6,000 5,000 Balance of income (loss) Balance allocated equally 0 Balance of income (loss) Shares of the partners Required 1 Required 2 Mc Graw Hill Education