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pleaae provide some kind of explanation or computation how you did it so i can follow along. thanks 1. On January 2001, Mary Smith.and Jake

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pleaae provide some kind of explanation or computation how you did it so i can follow along. thanks
1. On January 2001, Mary Smith.and Jake Jones agreed to produce and sell printed T-shirts Smith contributed $160,000 in cash to the business. Jones contributed assets valued at $130,000. The partnership had an income of 530,000 in 2021. (20 pts) 1. Record the investment and establishment of each partner's interest forming the business, Determine the share of income for each partner in 2021 under each of the following conditions (a)The partners agreed to share income equally (b)The partners agreed to share income according to the ratio of their original investments. (c)The partners agreed to share income by a stated ratio of 1:4 (Smith, Jones respectfully) 2. Baylor and Zumnek ure partners who share profits and losses in the ratio of 3:2 and have the following capital balances on September 30, 2021: (15 pls) Baylor, Capital $100,000 ZA. Capital: $200,000 The partners are to admit Sam to the partnership Prepare a general journal entry to admit Thomas into the partnership under each of the following independent assumption Sampays Baylor $75,000 for 50 percent of his interest Sam investi 100.000 for a one-fourth interest in the partnership Sam invests 5100.000 for a 30 percent interest in the proceship A English (United States 80 000 F3 OOD F4 . FS F A 7 2 # 3 $ 4 % 5 6 7 8

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