Assume that eric duffy and johnnie gladwin operate a partnership. their partnership agreement states that e. duffy receives two–thirds of the partnership income or loss and j. gladwin receives the remaining one–third. the partnership's income statement reported net income of $90,000 for the year ending december 31. prepare the december 31 journal entry that would be required to close the income summary account and allocate the net income to the two partners.

Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.a. after a long search, jon finds a job.b. tyrion, a full-time college student, graduates and is immediately employed.c. after an unsuccessful job search, arya gives up looking and retires.d. daenerys quits her job to become a stay-at-home mom.e. sansa has a birthday, becomes an adult, but has no interest in working.f. jaime has a birthday, becomes an adult, and starts looking for a job.g. cersei dies while enjoying retirement.h. jorah dies working long hours at the office.