= Homework: Ch 12 Homework B - Graded Question 2, EF12-16 (similar to) Part 1 of...

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= Homework: Ch 12 Homework B - Graded Question 2, EF12-16 (similar to) Part 1 of 2 HW Score: 0%, 0 of 44 points O Points: 0 of 6 Save Payton and Walker have formed a partnership. During their first year of operations, the partnership earned $80,000. Their-profit-and-loss-sharing agreement states that, first, each partner will receive 10% of their capital balances. The second level is based on services, with $16,000 to Payton and $10,000 to Walker. The remainder then will be shared 2:3 between Payton and Walker, respectively. C Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Payton's capital balance is $98,000 and Walker's capital balance is $98,000. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Net income (loss) Capital allocation: Payton Walker Salary allowance: Payton Walker Total salary and capital allocation Net income (loss) remaining for allocation Share of remainder: Payton Walker Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners Payton Walker Total = Homework: Ch 12 Homework B - Graded Question 2, EF12-16 (similar to) Part 1 of 2 HW Score: 0%, 0 of 44 points O Points: 0 of 6 Save Payton and Walker have formed a partnership. During their first year of operations, the partnership earned $80,000. Their-profit-and-loss-sharing agreement states that, first, each partner will receive 10% of their capital balances. The second level is based on services, with $16,000 to Payton and $10,000 to Walker. The remainder then will be shared 2:3 between Payton and Walker, respectively. C Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Payton's capital balance is $98,000 and Walker's capital balance is $98,000. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Net income (loss) Capital allocation: Payton Walker Salary allowance: Payton Walker Total salary and capital allocation Net income (loss) remaining for allocation Share of remainder: Payton Walker Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners Payton Walker Total