{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T06:21:38-04:00", "answer_date": "2024-05-29 06:21:38", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1880574", "url": "\/study-help\/questions\/required-information-the-following-information-applies-to-the-questions-displayed-1880574", "question_creation_date_js": "2024-05-29T06:21:38-04:00", "question_creation_date": "May 29, 2024 06:21 AM", "meta_title": "[Solved] Required information [The following infor | SolutionInn", "meta_description": "Answer of - Required information [The following information applies to the questions displayed below.] Ries, Bax, and Thomas inves | SolutionInn", "meta_keywords": "required,information,applies,questions,displayed,below,ries,bax,thomas,invested,$42,000,$58,000", "question_title_h1": " Required information [The following information applies to the questions displayed below.] Ries, Bax, and Thomas invested $42,000, $58,000, and $66,000, respectively, in a partnership.", "question_title": " Required information [The following information applies to the questions displayed below.]", "question_title_for_js_snippet": "Required information The following information applies to the questions displayed below Ries, Bax, and Thomas invested $42,000, $58,000, and $66,000, respectively, in a partnership During its first calendar year, the firm earned $392,700 Required Prepare the entry to close the firm's Income Summary account as of its December 31 year end and to allocate the $392,700 net income under each of the following separate assumptions 2 The partners agreed to share income and loss in the ratio of their beginning capital investments Complete this question by entering your answers in the tabs below Appropriation of profits General Journal Allocate $392,700 net income in the ratio of their beginning capital investments (Do not round intermediate calculations Round final answers to the nearest whole dollar ) Supporting Computations Ries Percentage of Total Equity Income Summary Allocated Income to Capital Bax Thomas Appropriation of profits General Journal ", "question_description": "\"image\"image", "transcribed_text": "Required information [The following information applies to the questions displayed below.] Ries, Bax, and Thomas invested $42,000, $58,000, and $66,000, respectively, in a partnership. During its first calendar year, the firm earned $392,700. Required: Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $392,700 net income under each of the following separate assumptions. 2. The partners agreed to share income and loss in the ratio of their beginning capital investments. Complete this question by entering your answers in the tabs below. Appropriation of profits General Journal Allocate $392,700 net income in the ratio of their beginning capital investments. (Do not round intermediate calculations. Round final answers to the nearest whole dollar.) Supporting Computations Ries Percentage of Total Equity Income Summary Allocated Income to Capital Bax Thomas < Appropriation of profits General Journal >", "related_book": { "title": "Managerial Accounting An Introduction to Concepts Methods and Uses", "isbn": "1111822239, 324639767, 9781111822231, 978-0324639766", "edition": "10th Edition", "authors": "Michael W. Maher, Clyde P. Stickney, Roman L. Weil", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/137.jpg", "uri": "\/textbooks\/managerial-accounting-an-introduction-to-concepts-methods-and-uses-10th-edition-137", "see_more_uri": "" }, "free_related_book": { "isbn": "9086860478", "uri": "\/textbooks\/development-economics-between-markets-and-institutions-incentives-for-growth-food-security-and-sustainable-use-of-the-environment-1st-edition-978-9086860470-252736", "name": "Development Economics Between Markets And Institutions Incentives For Growth Food Security And Sustainable Use Of The Environment", "edition": "1st Edition" }, "question_posted": "2024-05-29 06:21:38", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-August-28", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions-and-answers\/present-entries-to-record-the-following-summarized-operations-related-to-22193", "description": "Present entries to record the following summarized operations related to production for a company using a job order cost system: (a) Materials purchased on account $176,000 (b) Prepaid expenses...", "stars": 3 }, { "url": "\/what-are-the-similarities-and-differences-between-whatif-and-sensitivity", "description": "What are the similarities and differences between what-if and sensitivity analyses?", "stars": 3 }, { "url": "\/based-on-the-corruption-perception-index-developed-by-transparency-international", "description": "Based on the corruption perception index developed by Transparency International (www.transparency.org), rank the following countries from most corrupt to least: Venezuela, Denmark, the U.S.,...", "stars": 3.5 }, { "url": "\/study-help\/psychology\/1-at-the-beginning-of-a-unit-send-home-a-1984242", "description": "1. 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