Q • Question 1 0.5 out of 0.5 points Stone and Mill have decided to form a partnership. They are in the process of agreeing on how the profits/losses will be divided. Assume that the company is anticipating net income of $75,000 for the first time period. If there is no agreement, what would Stone's share of the net income be? Stone Mill Total Net Income ? $75,000 • Question 2 0.5 out of 0.5 points Stone and Mill have decided to form a partnership. They are in the process of agreeing on how the profits/losses will be divided. Assume that the company is anticipating net income of $75,000 for the first time period. Determine Stone's share of the net income if the partner's agree on interest allowance of 10% on the original investments and the remainder equally. Further assume an original investment of $30,000 for Stone and $24,000 for Mill. Stone Mill Total Interest Allowances (10%) Remainder Equally Totals ? $75,000 • Question 3 0.5 out of 0.5 points Stone and Mill have decided to form a partnership. They are in the process of agreeing on how the profits/losses will be divided. Assume that the company is anticipating net income of $75,000 for the first time period. Determine Stone's share of the net income if the partner's agree on a annual salary allowance of $31,000 for Stone and $23,000 for Mill and the remainder equally. Stone Mill Total Salary Allowances 31,000 23,000 54,000 Remainder Equally Totals ? $75,000 • Question 4 0.5 out of 0.5 points Stone and Mill have decided to form a partnership. They are in the process of agreeing on how the profits/losses will be divided. Assume that the company is anticipating net income of $75,000 for the first time period. Determine Stone's share of the net income if the partner's agree on interest allowance of 10% on the original investments and annual salary allowance of $31,000 for Stone and $23,000 for Mill with the remainder equally. Further assume an original investment of $30,000 for Stone and $24,000 for Mill. Stone Mill Total Interest Allowances (10%) Salary Allowance $31,000 $23,000 Remainder Equally Totals ? $75,000 • Question 5 0.5 out of 0.5 points Assume that Em and Bo are forming a partnership. Em will invest cash of $50,000 and Bo will invest a piece of equipment with a book value of $40,000 and a fair market value of $55,000. At what amount will the Em’s capital account be recorded?

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