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By what amount did a capital account change

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Q1. AB partnership incurred a loss during the year amounting to 20,000. Partnership agreement stipulates that annual salary allowances of 100,000 and 40,000 will be given to A and B respectively. Bonus to A of 10% of pro?t after partner's salaries but before deducting the bonus. Partners A and B will share remaining profits and losses using a 3:2 ratio. By what amount did B's Capital Account change

a) 4,000 Increase b) 20,000 Increase c) 20,000 Decrease d) 24,000 Decrease e) 24,000 Increase f) 4,000 Decrease

Q2. AB partnership incurred profit during the year amounting to 500,000. Partnership agreement stipulates that annual salary allowances of 100,000 and 40,000 will be given to A and B respectively. Bonus to A of 10% of profit after partner's salaries but before deducting the bonus. Partners A and B will share remaining profits and losses using a 60:40 ratio. By what amount did A's Capital Account change

a) 330,400 Increase b) 129,600 Increase c) 136,000 Increase d) 500,000 Increase e) 294,400 Increase f) 169,600 Increase

Q3. During the year, partnership earned 280,000. Partnership agreement stipulates that. a) First A shall receive 10% of profit up to 100,000 and 20% over 100,000. b) Second, B shall receive 5% of the remaining profit over 150,000. Any remainder shall be shared equally. How much was the change in B Capital?

a) 114,900 b) 119,100 0) 46,000 d) 160,900

Reference no: EM133141447

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