User Account

All Pages

How much net income should be distributed to Emmett

Assignment Help Accounting Basics
Reference no: EM133072774

Question - Emmett and Sierra formed a partnership dividing income as follows;

1. Annual salary allowance to Emmett of $39,900.

2. Interest of 8% on each partner's capital balance on January 1.

3. Any remaining net income divided equally.

Emmett and Sierra had $38,800 and $134,900, respectively in their January 1 capital balances. Net income for the year was $230,600. How much net income should be distributed to Emmett?

Reference no: EM133072774

Questions Cloud

Critical threats to the global environment : The United Nations has continued to retain you as a consultant for a project that deals with climate and the environment.
Estimate ual unlevered equity beta : ABC Inc. is a newly public firm with 10 million shares outstanding. You are doing a valuation of ABC. You estimate its free cash flow in the coming year (year 1
Journalize the entries in the partnership accounts : The partners agree that the merchandise inventory is to be valued at $61,000. Journalize the entries in the partnership accounts for (a) Barton's investment
What amount will be recorded to the building account : Kelsey will invest a building with a book value of $36,700 and fair market value of $71,000. What amount will be recorded to the building account
How much net income should be distributed to Emmett : Emmett and Sierra had $38,800 and $134,900, respectively in their January 1 capital balances. How much net income should be distributed to Emmett
COM 201 The Power of Effective Speaking Assignment : COM 201 The Power of Effective Speaking Assignment Help and Solution, Strayer University - Homework Help - Deliver an elevator pitch
Community in quality improvement activities : What are the roles of APNs employed by health care organizations in your community in quality improvement activities?
What is the incremental cash flow in year : Big-Pear Corp. is considering replacing its existing equipment that is used to produce smart cell phones. This existing equipment was purchase 3 years ago
How many pianos do they need to purchase in February : If the distributor always wants to have 40% of the pianos they will need, how many pianos do they need to purchase in February

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