User Account

All Pages

Calculate the amount that each partner will receive

Assignment Help Accounting Basics
Reference no: EM132973387

Problem - Burns and Smithers open a consulting business and set out the following provisions for dividing pro?ts and losses: Burns' salary will be $45 000 and Smithers' salary will be $35 000. They will receive 10% interest on their Capital account balances of $90 000 (Burns) and $65 000 (Smithers). Any remainder is to be divided equally. Calculate the amount that each partner will receive in each of the following situations: a) Net Income of $145 000. b) Net Income of $78 000. c) Net Loss of $25 000.

Reference no: EM132973387

Questions Cloud

Explain the features of nonverbal communication : 1. Describe how strong communication skills will improve your career outlook, strengthen your credibility, and help you succeed in today's competitive digital a
What should be the correct net income : Renovations to the tutoring office costing $20 500 have been made, but the invoice has not yet been received. What should be the correct net income
Essential qualities of successful teams : Teams are an essential part of every organization. When people work together, they can accomplish more. There are many essential qualities of successful teams;
What percentage do sales represent of the base : $784800 in the years 2021, 2022, and 2023, respectively. If 2021 is the base year, what percentage do 2023 sales represent of the base?
Calculate the amount that each partner will receive : Calculate the amount that each partner will receive in each of the following situations: a) Net Income of $145 000. b) Net Income of $78 000
Stage between sleep and wakefulness : Sleep inertia is a stage between sleep and wakefulness. Sleep inertia troubles many people. When they want to sleep it is difficult to fall asleep or when they
Show an extract of the statement of financial position : Show an extract of the statement of financial position on completion of the issue. Heri ltd was incorporated in 2016 with authorized share capital of 8,000,000.
Find company ev-book value of capital ratio : A corporation has an ROC of 15%, debt-equity ratio of 1/3, after-tax cost of debt of 6%, cost of equity of 18%, a reinvestment rate of 33.33% and an after-tax o
Prepare the annual budget for 2022 : Prepare a Master Budget - direct materials budget and expected cash disbursements for purchases of materials - overview of the expected results for the 2022

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd