Present income division section of the income statement

Assignment Help Financial Accounting

Reference no: EM13139482

abner and daisy had capital balances of $120,000 and $180,000 respecitvely at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $18,000 and $20,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $50,000. Present the income division section of the income statement for the current year.

Reference no: EM13139482

Questions Cloud

Define transfer function - key informaiton : Transfer function : key informaiton, A linear time-invariant discrete-time system is excited by the input x[n] = d[n] + 2u[n-1] (d represents δ(delta)). The resulting output response with zero initial conditions is y[n] = ((0.5)^n * u[n]). De..

What administrative release deals with proposed transaction : What administrative release deals with a proposed transaction rather than a completed transaction?

Stockholders equity section of a client balance sheet : Which of the following is the most important audit consideration when examining the stockholders' equity section of a client's balance sheet?

Determine the null and alternative hypothesis : The mean pulse rate for males. Define the null and alternative hypothesis. SD= 18.48 pulse rate for males 25.07 women.

Present income division section of the income statement : with the remaining net income divided equally. Net income for the current year was $50,000. Present income division section of the income statement for the current year.

Classification and division assignment on types of animals : I need to use a graphic organizer to prewrite a classification/division assignment on types of animals. The prewriting will demonstrate an understanding of this method of categorization and arrangement.

Banking and monetary policy : Primary purpose of the legal reserve requirement is to provide a means by which the monetary authorities can influence the lending ability of commercial banks - Exam: 050475RR - MONEY, BANKING AND MONETARY POLICY

Define energy of a moving charge : Energy of a moving charge, A region in space has an Electric field given by E = x(x^) - y(y^) + xy(z^) where (x^), (y^), (z^) indicate corresponding letter with caret on top of it.

What is the mass of the second isotope : The atomic weight of a newly discovered el- ement is 98.225 amu. It has two naturally occuring isotopes. One isotope has a mass of 96.780 amu. The second isotope has a per- cent abundance of 41.7%. What is the mass of the second isotope?

User Account

All Pages