The partnership agreement gives Yenny 60% and Queyen 40% of partnership incomes or losses. The partnership had a net loss of $32,000. Yenny's share of the loss was $16,200. Queyen's share was $15,800 True False When a partner leaves a partnership, the withdrawing partner is entitled to a bonus if the recorded equity is overstated. True False William and Smith formed a partnership with Scott who contributed $100,000, William who contributed $30,000, and Smith who contributed $70,000. Their partnership agreement called for the earnings division to be based on the ratio of capital investments. If the partnership had a profit of $475,000 for its first year of operation, how much would be credited to Smith's capital account? S166,250 $70,000 S130,000 $345.000 $475,000 Moreau invested $18,000 and Fereday invested $32,000 in a partnership. They agreed to share incomes and losses by allowing a $9,000 per year salary allowance to Moreau and a $12,000 per year salary allowance to Fereday, plus interest on the partners investments at 8%, with the balance to be shared equally. Under this agreement, the shares of the partners with a $80,000 profit are $40,000 to Moreau: $40,000 to Fereday $18,000 to Moreau: 562,000 to Fereday $37,940 to Moreau: S42,000 to Fereday $39,940 to Moreau: S40,560 to Fereday $38,500 to Moreau: S41,500 to Fereday The TJR Partnership recorded the following journal entry: 20.00 B. Tara Capital 2.000 2. Nilian Cup 2.000 S. Rose Capital The transaction reflects . Withdrawal of $2,000 cach by Tanner and Jackson Withdrawal of a partner who pays a $2,000 bonus to each of the other partners Addition of a partner who pays a bonus to cach of the other partners Additional investment into the partnership by Tara and Jillian Acceptance of a new partner who invests $20,000 and receives a $4,000 bonus