User Account

All Pages

How much should be allocated to Partner A

Assignment Help Financial Accounting
Reference no: EM132935611

Question - Partner A and B contributed 20,000 each into their partnership and have profit and loss agreement with the following provisions: salaries of 40,000 and 45,000 for A and B, respectively; and interest of 15% on average capital balances of 40,000 and 60,000 for A and B, respectively. One-third of any remaining profits or losses are allocated to B and the balance to A. If the partnership had a net income of 52,000, how much should be allocated to Partner A?

Reference no: EM132935611

Questions Cloud

Compute how much will ana receive if the net income earned : The partners of AAA Partnership are Delia, Nada, and Romina. How much will Ana receive if the net income earned is $470,000?
How has globalization changed throughout the years : How has globalization changed throughout the years? Do you think the freelance work online should be taxed and regulated by the local government
Find how much should she contribute to the new business : How much should she contribute to the new business? Mary admits Jaja as a partner in the business. Balance sheet accounts of Mary just before the admission
Compute how much is loss on realization of noncash assets : The partnership has total assets totaling to $500,000 including $50,000 cash before liquidation. How much is the loss on realization of noncash assets?
How much should be allocated to Partner A : One-third of any remaining profits or losses are allocated to B and the balance to A. If the partnership had a net income of 52,000, how much should allocated
Discuss any three recruitment methods : Discuss any three recruitment methods and give one benefit and 1 draw back
How is different from roa and roe : Research online for the another ratio called Return on Investment (ROI). How do you calculate it? How is it different from ROA and ROE?
How to increase productivity : Assume you are given a consultancy contract to Coca-Cola Company to advise them on how to increase their productivity. In the end you advise them to link their
Case study-gender issues at oz industries : Identify the arguments on the issue and summary the two different viewpoints on the matter. What is your view on the issue?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What the total overhead applied to job no amounted to

Direct material and labor charges of $27,000 and $15,000, respectively. On the basis of this information, the total overhead applied to job no. 101 amounted to

  What is the maximum potential contingent payout

What is the maximum potential contingent payout (earn-out) to the former owners of Home chef ? What were the factors that entered

  Calculate the appropriate WACC for Yasawa Ltd

Calculate the appropriate WACC for Yasawa Ltd to use, assuming no retained earnings are available for investing in new projects.

  Restaurant chain that qualified as component of entity

For the year ending December 31, 2016, Micron Corporation had income from continuing operations before taxes of $1,250,000 before considering the following transactions and events. All of the items described below are before taxes and the amounts sho..

  What is abc ending equity

During the year income totalled $45 and expenses totalled $33. XYZ also paid dividends of $16 during the year. What is ABC's ending equity.

  Estimate the minimum price the owner of the division

The book value of the division's assets is $950 million. Estimate the minimum price the owner of the division should consider for its sale

  Determine the average waiting time for cycles

Determine the average waiting time for cycles if they are the only item manufactured? and What are the average waiting times if both cycles and scooters are produced and the assembly line is not enlarged?

  Should the company make or buy

An outside vendor has just offered to supply the part for $16 per unit. If the company stops producing this part, one-third of the fixed overhead would be avoided. Should the company make or buy?

  Illustrate what is the effect of the free cash flows

According to the new requirement, the company should record an expense $50,000 for 2005 and $50,000 for 2006. During 2008, all options are exercised. Illustrate what is the effect of the free cash flows for 2005?

  What amount would be represented as the subsidiary building

What amount would be represented as the subsidiary's Building in a consolidation at December 31, 2018 assuming the book value at that date is still P200,000?

  What was Rotweiler net capital spending

The company's 2010 income statement showed a depreciation expense of $321,000. What was Rotweiler's net capital spending for 2010

  Evaluate how much is charle current ratio

Determine How much is Charle's current ratio? A partial list shows that Charles Corporation's adjusted trial balance, Accounts receivable $57,000

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