I need help with exercise 1 and 2. I have done part of it but I am stuck answering the part on exercise 1 "Remainder to be Allocated" and in exercise 2 I do not know how to answer the boxes that are blank. I have attached the document with some of my answer on it. If someone could help me understand how to work the problems that would be a big help.

The WhyEyeOughta general partnership is comprised of three general partners; Mo, Larry, & Curley. The partnership agreement calls for profits of the partnership to be allocated as per the following: Capital balances for each partner as of December 31st, 2017 are as follows: Mo $150,000 Larry $75,000 Curley $200,000 The partnership agreement calls for the following distribution of profit (or loss): A) If there is a profit, each partner is to receive 10% interest on their capital balance at year-end in excess of $100,000 B) Mo & Larry are to receive salaries of $5,000 each; Curley is to receive a salary of $20,000 if there is a profit C) Larry is to receive a bonus of 10% of partnership profit if there is a profit D) Any remaining profit or loss is to be allocated to Mo, Larry, & Curley in the ratio of 2:1:1 respectively Question 1) Prepare a distribution of income schedule for the partnership if there was a 2017 net income of $400,000 by entering the proper amounts in the gray-shaded cells. When correct, the cells will change color. Do not copy / copy & paste formulas! Interest on Capital Salaries Bonus Sub-Total Mo Larry Curley Total $5,000 $0 $10,000 $15,000 5,000 5,000 20,000 30,000 0 40,000 0 40,000 $10,000 $45,000 $30,000 $85,000 Remainder to be Allocated Total Question 2) Prepare a distribution of income schedule for the partnership if there was a 2017 net loss of by entering the proper amounts in the gray-shaded cells. When correct, the cells will change color. Do not copy / copy & paste formulas! Interest on Capital Salaries Bonus Sub-Total Remainder to be Allocated Total Mo Larry Curley Total $0 $0 $0 $0 5,000 5,000 0 10,000 0 0 0 0 $5,000 $5,000 $0 $10,000 400,000X.10 OTC Partnership has three existing partners with capital accounts and profit splits as follows: Partner A B C Capital Balance Profit Interest $500,000 1,500,000 3,000,000 $5,000,000 10% 30% 60% 100% If OTC admits a new partner, under each of the following scenarios how is the entry booked? Enter the proper dollar amount in each gray-shaded cell. When correct, the cells will change color. Scenario 1: New Partner D contributes $5,000,000 for a 50% capital share of the firm. Account Assets (contributed by D) Capital - D D $5,000,000 C $5,000,000 Scenario 2: New Partner D contributes $7,000,000 for a 50% capital share of the firm. The firm uses the bonus method of accounting for new partners and the bonus is applied to the existing partners. Account Assets (contributed by D) Capital - A Capital - B Capital - C Capital - D D $7,000,000 C Scenario 3: New Partner D contributes $7,000,000 for a 50% capital share of the firm. The firm uses the goodwill method, and any excess over FMV is attributable to existing goodwill. Account Assets (contributed by D) Goodwill Capital - A Capital - B Capital - C Capital - D D $7,000,000 $2,000,000 C $200,000 $600,000 $7,000,000 Scenario 4: New Partner D contributes $3,000,000 for 50% share of the firm. The firm uses the bonus method, and any bonus is attributable to the new partner. Account Assets (contributed by D) Capital - A Capital - B Capital - C Capital - D D $3,000,000 C