Reference no: EM132944347
Question - AGF partnership begins its first year of operation with the following capital balances and profit and loss percentages:
Able Capital $60,000 (20%)
Green Capital $80,000 (30%)
Frank Capital $100,000 (50%)
Each partner is allocated interest of 5% on beginning capital balances.
Green is allocated salary of $20,000 for the full year. Frank is allocated salary of $10,000 for the full year. Able is not allocated salary.
Each partner has drawings of $30,000 in the first year.
Assume that partnership net income in the first year is $300,000. What is the balance in Green's capital account at the end of the year?
a. $154,400
b. $181,400
c. $151,400
d. $77,400
e. $104,400
|
What is the reorder point for diaper company
: What the reorder point is? A diaper company estimates that its demand is behaving normally, with an average of 300 units sold per day
|
|
Management and managerial functions
: As a business consultant, what strategies can you suggest to improve the sales performance? Give 5 strategies and Explain
|
|
Commercial confidentiality policy
: Record management, Information management, Customer service and commercial confidentiality policy about and the procedure contains.
|
|
Use the afn equation to forecast the additional funds carter
: Use the AFN equation to forecast the additional funds Carter will need for the coming year. Carter Corporation's sales are expected to increase from $5 million
|
|
What is the balance in Green capital account
: Assume that partnership net income in the first year is $300,000. What is the balance in Green's capital account at the end of the year
|
|
What the total annual storage and ordering cost is
: What the total annual storage and ordering cost is? The company is capable of manufacturing 1,000 units per week working from Monday to Friday
|
|
What eaton should report an estimated warranty liability of
: Eaton Co. introduced new product carrying a two-year, At December 31, 2021, (assuming the accrual method) Eaton should report an estimated warranty liability of
|
|
What was the absorption costing net operating income
: Total fixed manufacturing overhead cost was $67,200. What was the absorption costing net operating income in the first year
|
|
Explain the various uses of health care data
: What are the concerns of leadership in aligning health care information technology (IT) and organizational strategy through the strategic information systems
|