Q$3/$ A$,$ B and C are partners in the Nowruz partnership company they were agreed on the followings:

$(12$ marks$)$

$1-$ Agree to grant partner B$\text{'}$s salary allowance of $$11000$ but partner A and $C$ receives no salary allowance.

$2-$ An interest allowance of $\%12$ of their respective average capital balance. A$\text{'}$s capital balance was $$300000,$ B$\text{'}$s capital balance was $$400000$ and C$\text{'}$s was capital $$250000.$

$3-$ Both A and B partners were receiving $$10000$ and $$500$ as a bonus respectively.

$4-$ B$\text{'}$s partner has drawn some of $$500$ for personal use, all partners were agreed to deduct from net income.

$5-$ The remainder is shared in the profit and loss ratio $3$:$1$:$2$ respectively.

$6-$ Net income was $$500,000$ based on salary, interest on capital balance, Bonus and Drawings.

Required:

A$.$ Allocate net income or net loss according to the following independent situations:

B$.$ Prepare the closing entry under each of the above cases at December $31,2021$

C$.$ Prepare the capital statement after sharing net income.