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Please help me solve for a, b, and c. Thank you for taking the time to help us. No. Account Titles and Explanation 1. Income
Please help me solve for a, b, and c. Thank you for taking the time to help us.
No. Account Titles and Explanation 1. Income Summary A. Nlensted, Capltal G. Bolen, Capltal K. Sayler, Capltal 2. Income Summary A. Nlensted, Capltal G. Bolen, Capital K. Sayler, Capital 3. Income Summary A. Nlensted, Capltal G. Bolen, Capital K Sayler, Capltal Debit Credit (b) Prepare a schedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. - 15,0 At the end of its first year of operations on December 31, 2022, Wildhorse Company's accounts show the following. Prepare a nartnere' canital statement for the vear I Inder ase Imntion (3) ahowe (I ist iteme that inerence nartners canital firct.) Joumalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are automatically indented when a 1. Net income is \\( \\$ 36,600 \\). Income is shared 6:3:1. 2. Net income is \\( \\$ 48,800 \\). Niensted and Bolen are given salary allowances of \\( \\$ 18,300 \\) and \\( \\$ 12,200 \\), respectively. The remainder is shared equally. 3. Net income is \\( \\$ 23,180 \\). Each partner is allowed interest of \10 on beginning capital balances. Niensted is given a \\( \\$ 18,300 \\) salary allowance. The remainder is shared equallyStep by Step Solution
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