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PLEASE SOLVE (B) , (C) , (D) AND SHOW WORK PLEASE. Veda Denner and...

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Accounting

PLEASE SOLVE (B) , (C) , (D) AND SHOW WORK PLEASE.

Veda Denner and Gordon Wilson have a partnership agreement with the following provisions for sharing profit or loss:

1. A salary allowance of $27,200 to Denner and $34,900 to Wilson
2. An interest allowance of 5% on capital balances at the beginning of the year
3. The remainder to be divided between Denner and Wilson on a 2:3 basis

The capital balances on January 1, 2024, for Denner and Wilson were $72,200 and $88,900, respectively. For the year ended December 31, 2024, the Denner Wilson Partnership had sales of $299,200; cost of goods sold of $220,000; operating expenses of $114,400; V. Denner drawings of $21,180; and G. Wilson drawings of $25,344.

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THANK YOU.

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