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Adan, Wurphy, and Bennet hene capital balances of $24,000,$36,000, and $60,000, respectively. The parthess share...

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Accounting

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Adan, Wurphy, and Bennet hene capital balances of $24,000,$36,000, and $60,000, respectively. The parthess share profits and losses as follows: a. The fest $50,000 is dvided bosed on the carnera' capital bolances b. The next 550,000 is based on service, shared equaliy by Adan and Bennet Murphy does net recewe a salary allowince. c. The remainder is dividod equaly. Resad thit cegrectients oparepriate column.) Requirement 1. Compute each partner's share of the $124,000 net income for the year. (Complete all answer bo Requirements 1. Compute each partner's share of the $124,000 net income for the year. 2. Journalize the closing entry to allocate net income for the year

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