Module 8 Homework (Chapter 14) 2. On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $55,000.583,000, and $85,000. respectively. Over the next three years, the business reported net income and loss) as follows: 125 points 2020 2023 2022 $ 95,000 67,000 (50,000) 04:37:40 el During this period, each partner withdrew cash of 518,000 per year. Krause invested an additional $7.000 in cash on February 9, 2021 At the time that the partnership was created, the three partners agreed to allocate all profits and losses according to a specified plan Print written as follows: Each partner is entitled to interest computed at the rate of 10 percent per year based on the individual capital balances at the Because of prior work experience, Angela is entitled to an annual salary allowance of 518,000 per year, and Diaz is entitled to an . Any remaining profit will be spilt as follows: Angela, 20 percent Dlaz, 35 percent and Krause, 45 percent. If a net loss remains after the initial allocations to the partners, the balance will be allocated Angela, 30 percent. 45 percent and Krause, 25 percent Prepare a schedule that determines the ending capital balance for each partner os of the end of each of these three years, Complete this question by entering your answers in the tabs below. Ending Capital Ending Castal Ending Capital Bach 2020 Balance 2021 Balance 2032 Complete this question by entering your answers in the tabs below. Ending Capital Ending Capital Ending Capital Balance 2020 Balance 2021 Balance 2022 Prepare a schedule that determines the ending capital balance for each partner as of the end of deducted should be indicated with minus sign.) ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2020 Angela Diaz Krause Total $ 0 0 Beginning balances Net income allocation Drawings Ending balances 0 0 0 $ 0 $ 0 $ Encing capa 2020 Ending Capital Balance 20 Complete this question by entering your answers in the tabs below. Ending Capital Ending Capital Ending Capital Balance 2020 Balance 2021 Balance 2022 Prepare a schedule that determines the ending capital balance for each partner as of the end of 202 deducted should be indicated with minus sign.) ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2021 Angela Diaz Krause Total S 0 0 Beginning balances Additional investment Net income allocation Drawings Ending balances 0 0 $ 0 S $ 0 S 0