Sadie and Sam share income equally. For the current year, the partnership net income is $40,000. Sadie made withdrawals of $14,000 and Sam made withdrawals of $15,000. At the beginning of the year, the capital account balances were: Sadie, Capital, $42,000; Sam, Capital, $58,000. Sam's capital account balance at the end of the year is Oa. $63,000 Ob. $78,000 Oc. $43,000 Od. $93,000 Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $47,000 and equipment with a cost of $177,000 and accumulated depreciation of $102,000. The partners agree that the equipment is to be valued at $67,700, that $3,700 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,500 is a reasonable allowance for the uncollectiblity of the remaining accounts receivable. Tim contributes cash of $21,500 and merchandise inventory of $44,500. The partners agree that the merchandise inventory is to be valued at $48,000. Journalize the entries to record in the partnership accounts (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. (a) (b) 1 Rodgers and Winter had capital balances of $60,000 and $90,000, respectively, at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $30,000, respectively, an allowance of interest at 12% on the capital balances at the beginning of the year; and the remaining net income divided equally. Net income for the current year was $110,000 a. Present the Division of net income section of the income statement for the current year. Net Income $110,000 Rodgers Winter Total Division of net income: Salary allowance Interest allowance Total Net income b. Assuming that the net income had been $65,000 instead of $110,000, present the Division of net income section of the income statement for the current year. Net income $65,000 Rodgers Winter Total Division of net income: Salary allowance Interest allowance Total Net income