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Requ. 1 to 4 Requ. 5 Requ. 6 to 7 Gen. Jh. Alloc. Trial Bal. Before you begin, print out all the pages in this workbook. Part A (2019) Partnership A, B, and C is a law firm. You have been engaged as accountant to prepare financial statements for the year ended December 31, 2019. The partnership's trial balance is shown on the "2019 Tr. Bal." page (see tab below). "Salary expenses listed on the trial balance are each partners' withdrawals for the year. Partnership profits are allocated based first on salaries, then on interest on opening capital balances, then on a fixed ratio. Salary allocation amounts are: $100,000 $100,000 $160,000 Opening capital balances are: $70,000 $60,000 $70,000 Interest rate is: The fixed ratio is: Required 1 Prepare year-end adjusting entries. No descriptions are necessary, 2 Alinate nartnershin nonfit or insteach nartner Prenare the necessarvadisine entry Requ. 1 to 4 Requ. 5 Requ. 6 to 7 Gen. Jh. Alloc. Trial Bal. Before you begin, print out all the pages in this workbook. Part A (2019) Partnership A, B, and C is a law firm. You have been engaged as accountant to prepare financial statements for the year ended December 31, 2019. The partnership's trial balance is shown on the "2019 Tr. Bal." page (see tab below). "Salary expenses listed on the trial balance are each partners' withdrawals for the year. Partnership profits are allocated based first on salaries, then on interest on opening capital balances, then on a fixed ratio. Salary allocation amounts are: $100,000 $100,000 $160,000 Opening capital balances are: $70,000 $60,000 $70,000 Interest rate is: The fixed ratio is: Required 1 Prepare year-end adjusting entries. No descriptions are necessary, 2 Alinate nartnershin nonfit or insteach nartner Prenare the necessarvadisine entry

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