Listed here are the net income and the method of dividing net income or net loss for
Question:
Listed here are the net income and the method of dividing net income or net loss for several partnerships.
Instructions
Use the form provided in your working papers to determine each partner’s share of the net income.
Transcribed Image Text:
Net Income 1. $45,000 2. $89,700 3. $22,000 4. $32,000 5. $92,700 Method of Dividing Partnership Earnings Equally: 2 partners Fractional share: 2/3, 1/3 Fractional share: 3:1 Fractional share: 2/5, 2/5, 1/5 Equally: 3 partners
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Method of Dividing Partnership Earnings Partner 1 Partner ...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Listed here are the total electric energy consumption amounts (in kWh) for the home of a statistics professor during seven different years: The utility company claims that the mean annual consumption...
-
The following table shows the net income and average total assets (in millions) for a recent fiscal year for RONA inc. and Canadian Tire Corporation, Limited: a. Compute the return on assets ratio...
-
The following table shows the net income and average total assets for a recent fiscal year for three different companies from three different industries: retailing, manufacturing, and communications....
-
How important is the ability of international managers to undertake cultural interpretation work to the subsequent success of international strategies?
-
A graphical approach was used to solve the following LP model in Problem 2-16: Minimize cost = $4X + $7T Subject to the constraints 2X +3Y> 60 4X + 2Y > 80 X $24 >0
-
A river of width \(D\) flows uniformly at speed \(V\) relative to the shore. A swimmer swims always at speed \(2 V\) relative to the water. (a) If the swimmer dives in from one shore and swims in a...
-
Volumes (cm 3 ) of brains listed in Data Set 6 of Appendix B. Determine which of the four levels of measurement (nominal, ordinal, interval, ratio) is most appropriate. Data Set 6: IQ and Brain Size...
-
Hershey's is a familiar name in snacks. There's a good chance you have recently enjoyed one of its products. The company manufactures confectionery products in a variety of packaged forms and markets...
-
7.-p-4 8. p-q construct a truth table for the statement.
-
Indicate whether each of the following statements specify descriptive statistics ( because it describes sets of actual observations) or inferential statistics ( because it generalizes beyond sets of...
-
Three people form a partnership. A invests $10,000; B, $25,000; and C, $35,000. If they share net income of $100,000 based on their original investments, what is the profit sharing ratio, and how...
-
Assume that Bernards Novelty is a partnership. Which transaction would occur if Partner A withdraws cash for personal use to purchase an automobile? a . Debit Salary Expense and credit Cash b . Debit...
-
x20 = (n 1)s2-20 Simplify the right-hand side of the statistics formula.
-
Romeo's Schedule K-1 (Form 1120-S) from the S corporation Murdock Inc. for the current tax year shows his share of items as follows: $19,000 in ordinary business income, $4,000 in ordinary dividends,...
-
You are in need of funds to expand your corporation, and three alternatives include issuing common stock, issuing bonds payable, and issuing a note payable. Discuss the pros and cons of each of these...
-
The stock of Cyclone Industrial just paid a dividend of $1.25 today. The company promises that the dividend of next year will be $1.35 next year. The dividend growth rate is expected to remain at the...
-
For inviscid adiabatic flow, prove the relation 1 Dp p Dt in two ways: =-.u 1. by combining the energy and continuity equations; 2. by applying the isentropic relation p = const to a fluid element...
-
John and Susan, both age 35, are married, and each own 35% of an S corporation for which they perform services as employees. The company had $30,000 in ordinary business income (John and Susan both...
-
Refer to Exercise 11.43. The printout that follows provides the average costs of the selected items for the k = 4 stores. Store Mean Vons................... 4.1350 Ralphs................... 4.3400...
-
(a) With not more than 300 words, examine why Malaysia missed its 2020 targets to divert 40% of waste from landfills and increase recycling rates to 22%. (10 marks) b) Why arent Malaysian recycling?...
-
You want to create a portfolio equally as risky as the market, and you have $1,000,000 to invest. Given this information, fill in the rest of the following table: ASSET INVESTMENT BETA $215,000 Stock...
-
You have $100,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 11.7 percent. If Stock X has an expected return of 10.8...
-
Based on the following information, calculate the expected return and standard deviation of each of the following stocks. Assume each state of the economy is equally likely to happen. What are the...
-
Abigail Morrow Polynomial Long Division (Level 2) May 30, 10:17:24 AM Use the long division method to find the result when 3x^(3)-6x^(2)-17x-28 is divided by x-4.
-
Assuming you invested $100,000 in a portfolio of investments allocated as below. Use the following information to answer the following questions INPUT (PORTFOLIO) FREE CALCULATION AREA (use this area...
-
Your company imports a product from a British firm. Assume that your company is obligated to pay 1,000,000 in 90 days in return for the product that will be delivered at that time by the British...
Study smarter with the SolutionInn App