Prepare the schedule to distribution the net income

Assignment Help Financial Management

Reference no: EM131904310

Hope, Enjoy & Faith Inc. reports net income of $140,000.

The partnership agreement provides for annual salaries:

Hope $ 20,000

Enjoy $ 15,000

Faith $ 10,000

The partnership agreement provides for interest allowances:

Hope $10,000

Enjoy $11,000

Any remaining income or loss is to be shared:

Enjoy 30%

Hope 10%

Faith 60%

The beginning capital for the partners are:

Enjoy $132,000

Faith $190,000

Hope $100,000

During the 2016:

Hope contribution additional investment in the partnership for $10,000

Enjoy withdrawals $4,000.

Instructions

Prepare the schedule to distribution the net income.

Prepare the statement of capital for the Hope, Enjoy and Faith Inc.

Reference no: EM131904310

Questions Cloud

Valuate your stock using constant dividend growth model : Valuate your stock using constant dividend growth model and multi period dividend discount model.

Accompanied by corresponding increase in investment : Is trade deficit more worrisome when not accompanied by a corresponding increase in investment? Explain

Valuate your stock using constant dividend growth model : The stock to answer the following questions is Fresh Del Monte Produce (FDP). Valuate your stock using constant dividend growth model

Groups contribute to maintenance of professional quality : How do these groups contribute to the maintenance of professional quality?

Prepare the schedule to distribution the net income : Prepare the schedule to distribution the net income. Prepare the statement of capital for the Hope, Enjoy and Faith Inc.

What would the value be payments occurred forever : What is the value of the investment today? What would the value be if the payments occurred forever?

Maturity assuming that the bond yield to maturity : Coupon bond with 25 years remaining until maturity assuming that the bond's yield to maturity is 17 percent?

Calculate the current price of value bond : Calculate the current price of a $1,000 par value bond that has a coupon rate of 8 percent, pays coupon interest annually,

Operation of currency forward market and futures market : Explain the basic differences between the operation of a currency forward market and a futures market

User Account

All Pages