Required information [The following information applies to the questions displayed below.) Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $68,400, $266,000, ane $425,600, respectively. They predict annual partnership net income of $456,000 and are considering the following alternative plans of sharing income and loss: (a) equally: (b) in the ratio of their initial capital investments; or (c) salary allowances of $80,400 to Mo, $60,300 to Lu, and $90,500 to Barb; interest allowances of 10% on their initial capital investments, and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), t income earned is $210,700, and that Mo, Lu, and Barb withdraw $34,500, $48,500, and $64,500, respectively, at year-end. (Don round intermediate calculations. Enter all allowances as positive values. Enter losses as negative values.) B. O of 3 Required information [The following information applies to the questions displayed below) Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $68,400, $266,000, and $425,600, respectively. They predict annual partnership net income of $456,000 and are considering the following alternative plans of sharing income and loss: (a) equally: (b) in the ratio of their initial capital investments; or (c) salary allowances of $80,400 to Mo, $60,300 to Lu, and $90,500 to Barb; interest allowances of 10% on their initial capital investments, and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. ok int nces 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), that income earned is $210,700, and that Mo, Lu, and Barb withdraw $34,500, $48,500, and $64,500, respectively, at year-end. (Do not round intermediate calculations. Enter all allowances as positive values. Enter losses as negative values.) MLB PARTNERSHIP Statement of Partners' Equity For Year Ended December 31 Mo Lu Barb Total Initial partnership investments 0 -re to search Required information [The following information applies to the questions displayed below.) Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $68,400, $266,000, ane $425,600, respectively. They predict annual partnership net income of $456,000 and are considering the following alternative plans of sharing income and loss: (a) equally: (b) in the ratio of their initial capital investments; or (c) salary allowances of $80,400 to Mo, $60,300 to Lu, and $90,500 to Barb; interest allowances of 10% on their initial capital investments, and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), t income earned is $210,700, and that Mo, Lu, and Barb withdraw $34,500, $48,500, and $64,500, respectively, at year-end. (Don round intermediate calculations. Enter all allowances as positive values. Enter losses as negative values.) B. O of 3 Required information [The following information applies to the questions displayed below) Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $68,400, $266,000, and $425,600, respectively. They predict annual partnership net income of $456,000 and are considering the following alternative plans of sharing income and loss: (a) equally: (b) in the ratio of their initial capital investments; or (c) salary allowances of $80,400 to Mo, $60,300 to Lu, and $90,500 to Barb; interest allowances of 10% on their initial capital investments, and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. ok int nces 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), that income earned is $210,700, and that Mo, Lu, and Barb withdraw $34,500, $48,500, and $64,500, respectively, at year-end. (Do not round intermediate calculations. Enter all allowances as positive values. Enter losses as negative values.) MLB PARTNERSHIP Statement of Partners' Equity For Year Ended December 31 Mo Lu Barb Total Initial partnership investments 0 -re to search
