McGill and Smyth have capital balances on January 1 of $50,000 and $40,000 respectively . The partnership income sharing agreements provides for (1) annual salaries of $22,000 for Mcgill and $13,000 for Smyth (2) interest at 10% on beginning capital balances and (3) remaining income or loss to be shared 60% by McGill and 40% by Smyth . (a) Prepare a schedule showing the distribution of net income assuming net income is
(1) $50,000 and
(2) $ 36,000
(b) Journalize the allocation of net income in each of the situation above .

In the 10th grade, i was teamed up in a group of four. our project was on modern history. altho it seemed super hard for many of us. patrick fleming  took charge and showed us the understanding of this project.  his leadership showed great ethics and it taught me, personally, how to others understand, not just to show them, but explain it thoroughly. and altho he was a great teacher i would have changed a few things. one being his attitude. many times he would get frustrated and impatient with the group.  i think  a leader i would have done exactly  what he did but with much more patience and be there more to explain. such as lunch  learning. and giving everybody a chance to try to explain it in their  head. 

What is your sorry if i didn't see the question in the problem.

President obama indicates that there are several reasons for the financial crisis. according to the president, one reason is irresponsible practices by financial institutions. the amount of risk involved in newly created investments was high, and few investors or consumers understood this. these types of investments were made possible due to a lack of regulation within the system.