$|$Taller $6$ Asignaci$$n

A summary of changes in the capital accounts of the Katie, Lynda, and Molly partnership for $2011,$

before closing partnership net income to the capital accounts, is as follows:

Determine the allocation of the $2011$ net income to the partners under each of the following sets of

independent assumptions:

Partnership net income is $$60,000,$ and profit is divided on the basis of average capital balances

during the year.

Partnership net income is $$50,000,$ Katie gets a bonus of $10\%$ of income for managing the business,

and the remaining profits are divided on the basis of beginning capital balances.

Partnership net loss is $$35,000,$ Molly receives a $$12,000$ salary, each partner is allowed $10\%$ interest

on beginning capital balances, and the remaining profits are divided equally.