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Allocation of Income before the new partner John Jane Beginning Capital Balance 1 00000 200000 Interest on Capital Balance 10000 20000 Annual salary...

I was wondering how I should fill out the table after the dissolution of the partnership. 555.jpg

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Allocation of Income before the new partner John Jane
Beginning Capital Balance 1 00000 200000
Interest on Capital Balance 10000 20000
Annual salary 15000 20000
Remainder 74000 111 000 The residual profit or loss is divided using a 2:3 ratio which 2 parts assigned to John and 3 parts assigned to Jane before Tom
became new partner. Admission of New Partner On January 1, 2018 John and Jane decide to admit a new partner, Tom, for a 1/6 interest in the firm for $175,000. The bonus
method is used to record the admission of the new partner. After admitting the new partner, the partnership agreement is
amended as follows: Each partner receives 10% interest on his beginning capital balance. Each partner receives an annual salary of $20,000. The
residual profit of loss is divided in a ratio of 30% to John, 50% to Jane, and 20% to Tom. Dissolution of Partnership Assume that on 12/31/18, the partnership is dissolved. On that date, after closing the books, the following information is
available: Other information necessary for the liquidation is as follows:
During the month of January 2019, assets with a book value of $180,000 were sold for $210,000. Other fixed assets turned out
to have no value as of January 31, 2019. Pre are a schedule of safe a ments as ofJanua 31 2019. Partnership of John, Jane, and Tom
Schedule of Safe Payments
January 31, 2019 Receivable John Jane Tom
___— Sale of assets, January
Payment of liabilities
Loss on other assets Safe payment to partners

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