On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $42,000, $65,000, and $72,000, respectively Over the next three years, the business reported net income and (loss) as follows During this period, each partner withdrew cash of $14,000 per year Krause invested an additional $4,000 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 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 beginning of that year Because of prior work experience, Angela is entitled to an annual salary allowance of $11,500 per year, and Diaz is entitled to an annual salary allowance of $10,200 per year Any remaining profit will be split as follows Angela, 20 percent Diaz, 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 Diaz, 45 percent and Krause, 25 percent Prepare a schedule that determines the ending capital balance for each partner as of the end of each of these three years begin tabular lr 2020 ( $ 82,000 ) 2021 54,000 2022 ( (37,000) ) hline end tabular begin tabular l l l l l hline multicolumn 5 c ANGELA, DIAZ and KRAUSE hline multicolumn 5 c Statement of Partners' Capital hline For the Year Ending December 31, 2022 hline Angela Diaz Krause Total hline Beginning balances hline Income allocation hline Drawings hline Ending balances hline end tabular ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2020 begin tabular l l l l l hline multicolumn 1 c Angela Diaz Krause Total hline Beginning balances hline Net income allocation hline Drawings hline Ending balances hline end tabular ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2021

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On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $42,000, $65,000, and $72,000, respectively. Over the

On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $42,000, $65,000, and $72,000, respectively. Over the next three years, the business reported net income and (loss) as follows

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During this period, each partner withdrew cash of $14,000 per year. Krause invested an additional $4,000 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 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 beginning of that year.
Because of prior work experience, Angela is entitled to an annual salary allowance of $11,500 per year, and Diaz is entitled to an annual salary allowance of $10,200 per year.
Any remaining profit will be split as follows: Angela, 20 percent; Diaz, 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; Diaz, 45 percent; and Krause, 25 percent.

Prepare a schedule that determines the ending capital balance for each partner as of the end of each of these three years.

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\\begin{tabular}{lr} 2020 & \$ \\$ 82,000 \$ \\\\ 2021 & 54,000 \\\\ 2022 & \$ (37,000) \$ \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|l|l|l|l|} \\hline \\multicolumn{5}{|c|}{ ANGELA, DIAZ and KRAUSE } \\\\ \\hline \\multicolumn{5}{|c|}{ Statement of Partners' Capital } \\\\ \\hline & For the Year Ending December 31, 2022 \\\\ \\hline & Angela & Diaz & Krause & Total \\\\ \\hline Beginning balances & & & & \\\\ \\hline Income allocation & & & & \\\\ \\hline Drawings & & & & \\\\ \\hline Ending balances & & & & \\\\ \\hline \\end{tabular} ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2020 \\begin{tabular}{|l|l|l|l|l|} \\hline & \\multicolumn{1}{c|}{ Angela } & Diaz & Krause & Total \\\\ \\hline Beginning balances & & & & \\\\ \\hline Net income allocation & & & & \\\\ \\hline Drawings & & & & \\\\ \\hline Ending balances & & & & \\\\ \\hline \\end{tabular} ANGELA, DIAZ, and KRAUSE Statement of Partners' Capital For the Year Ending December 31, 2021