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Instructions E12.5 Coburn (beginning capital. $60,000) and Webb (beginning capital $90,000) are Pripor journal entries...

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Accounting

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Instructions E12.5 Coburn (beginning capital. $60,000) and Webb (beginning capital $90,000) are Pripor journal entries to partners. During 2017, the partnership camed Det Income of $80,000, and Coburn made record allocation of net drawings of $18,000 while Webb made drawings of $24,000. th.com (LO 2) (0) Assume the partnership income sharing agreement calls for income to be divided 45% to Coburn and 55% to Webb. Prepare the journal entry to record the allocation of net Income (b) Assume the partnership locome-sharing agreement calls for Income to be divided with a salary of $30,000 to Coburn and $25,000 to Webb, with the remainder divided 45% to Coburn and 59% to Webb. Prepare the Journal entry to record the allocation of net Income 564 12 Accounting for Partnerships (e) Asume the partnership income-sharing agreement calls for income to be divided with a salary of $40,000 to Cobum and 535.000 to Webb, interest of 10% on beginning ital, and the remainder divided 50%-50% Prepare the journal entry to record the allocation of net income (d) Compute the partners ending capital bulances under the assumption in parte)

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