Xavier and yolonda have original investments of 50000 and

Assignment Help Accounting Basics
Reference no: EM13609024

Xavier and Yolonda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 15%, salary allowances of $22,000 and $20,000 respectively, and the remainder equally. How much of the net income of $90,000 is allocated to Xavier?

Reference no: EM13609024

Questions Cloud

Flott company has ten employees who each earn 120 per day : flott company has ten employees who each earn 120 per day. if they accumulate vacation time at the rate of 1.5 vacation
Landers company manufactures a number of products the : landers company manufactures a number of products. the standards relating to one of these products are shown below
A doctor is trying to determine whether her patients prefer : a doctor is trying to determine whether her patients prefer a male nurse or a female nurse. after asking 25 male
What regulations govern the functions and structure of : what regulations govern the functions and structure of boards of directors? what is legally required of directors? what
Xavier and yolonda have original investments of 50000 and : xavier and yolonda have original investments of 50000 and 100000 respectively in a partnership. the articles of
Another client wynona decides that she will invest 5000 per : another client wynona decides that she will invest 5000 per year in a 6 annuity for the first ten years then 6000 for
Say you have two lumps of copper one hot and the other : say you have two lumps of copper one hot and the other cold. what is the maximum work you could obtain by running a
Elliots escargots sells commercial and home snail : elliots escargots sells commercial and home snail extraction tools and serving pieces. currently the snail extraction
June 11 purchased five jazelle jets from springview : june 11 purchased five jazelle jets from springview incorporated. the list price of the jets is 4250.00 each with a

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the total product costs for the company

what are the total product costs for the company under variable costing?

  How much will be accumulated in the account on the date

Kelly Malone plans to have $50 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and one-half years.

  At the end of the year actual manufacturing over head costs

at the end of the year actual manufacturing over head costs were 120k and applied manufacturing overhead cost were

  A company used the percent of sales method to determine its

a company used the percent of sales method to determine its bad debts expense. at the end of the current year the

  Equity section of the balance sheet

Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Company.

  Develop personal professional skills and capabilities

Develop personal professional skills and capabilities through the application of tools and strategies taking into account the opportunities and constraints of the professional environment

  Khamsah mining company purchased a tract of mineral land

khamsah mining company purchased a tract of mineral land for 900000. it is estimated that this tract will yield 120000

  Amount of expense recognized-accrual-basis accounting

Speedy paid $90,000 of the fuel cost in May, with the remainder paid in June. In addition, Speedy paid $15,000 in May to another fuel supplier in an effort to build up its supply of fuel. Calculate the amount of expense recognized in May under accr..

  Result of receiving the group-term life benefit

Assuming that Gray is 52 years old, determine the monthly premium that Gray must include in income as a result of receiving the group-term life benefit?

  Statements referring to fixed costs

Which of the follwoing statemetns is true when referring to fixed costs? 1. Committed fixed costs arise from the annual decisions by management. 2. As volume increases, unit fixed cost and total fixed cost will change.

  Office world inc has cash and carry customers and credit

office world inc. has cash and carry customers and credit customers. office world estimates that 25 of monthly sales

  Shimmer does not sell any other assets during the year and

shimmer inc is a calendar year end accrual method corporation. this year its sells the following long term assetsassets

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd