Question 1 R. Huma and W. How have capital balances on July 1, 2016, of $61,000 and $57,000, respectively. The partnership profit-sharing agreement specifies: 1. salary allowances of $30,900 for Huma and $20,800 for How 2. Interest at 6% on beginning capital balances, and 3. for the remaining profit or loss to be shared 60% by Huma and 40% by How Prepare a schedule showing the division of profit for the year ended June 30, 2017. (Round answers to (1) Assuming profit is $70,700. decimal places, e.g. 5,276. Enter negative amounts using eithe HUMA AND HOW Division of Profit Profit Salary allowance R Huma W. How Total Profit (deficiency) remaining for allocation Interest allowance R. Huma W. HOW Total Profit (deficiency) remaining for allocation Fixed ratio R. Huma W. How Total Profit (deficiency) remaining for allocation Profit (loss) allocated to the partners (2) Assuming profit is $57,000. HUMA AND HOW Division of Profit R. Huma (2) Assuming profit is $57,000. HUMA AND HOW Division of Profit R. Huma W. How Profit Salary allowance R Huma W. How Total Profit (defidency) remaining for allocation Interest allowance R. Huma W. How Total Profit (dendency) remaining for allocation Fixed ratio R Huma W. How Total TE Profit (deficiency) remaining for allocation Profit (loss) allocated to the partners Journalize the allocation of profit in each of the situations in (a). (Round answers to o decimal places, e.g. 5,276. Credit Account Titles and Explanation Debit Credit Date (1) June 30 (2) June 30