Bill beck bruce beck and barb beck formed the bbb

Reference no: EM13482454

Bill Beck, Bruce Beck, and Barb Beck formed the BBB Partnership by making capital contributions of $77,400, $301,000, and $481,600, respectively. They predict annual partnership net income of $508,500 and are considering the following alternative plans of sharing income and loss: (a) equally; (b) in the ratio of their initial capital investments; or (c) salary allowances of $84,400 to Bill, $63,300 to Bruce, and $95,500 to Barb; interest allowances of 10% on their initial capital investments; and the balance shared as follows: 20% to Bill, 40% to Bruce, and 40% to Barb. Bill, Bruce, and Barb withdraw $40,500, $54,500, and $70,500, respectively, at year-end.

Reference no: EM13482454

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