Why is a salary allowance used in the allocation of income in a partnership?
Question:
Why is a salary allowance used in the allocation of income in a partnership?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
A salary allowance may be used in the allocation of income in a partnership for several reasons Firs...View the full answer
Answered By
Saleem Abbas
Have worked in academic writing for an a years as my part-time job.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
Why is an interest allowance used in the allocation of income in a partnership?
-
A bee cage is bounded by the surfaces: z = 0 on bottom, x = 0 on back, x = 1 - y? on the front and sides, and z = x2 + y on top. Where x, y, and z are all measured in meters. To be as humane as...
-
Mo, Lu, and Barb formed the MLB Partnership by making investments of $67,500, $262,500, and $420,000, respectively. They predict annual partnership net income of $450,000 and are considering the...
-
Consider an increasing marginal-cost depletable resource with no effective substitute. (a) Describe, in general terms, how the marginal user cost for this resource in the earlier time periods would...
-
Assume a firm receives the following credit terms from six suppliers and a 365-day year. Supplier 1: 2/10 net 50 Supplier 2: 1/10 net 30 Supplier 3: 2/10 net 150 Supplier 4: 3/10 net 60 Supplier 5:...
-
Discuss why the remote/rural economy doesn't produce enough jobs for residents. Why does most of the cash generated in remote areas never influence the local economy?
-
In a game of cards you are dealt a hand of six cards at random from a standard deck of 52 cards. You are declared winner if you are being dealt an ace, two kings and three queens. Find the...
-
A volume of air(assumed to be an ideal gas) is first cooled with out changing its volume and then expanded without changing its pressure, as shown by the path abc in Fig. 19.30. (a) How does Ute...
-
Cobalt Industries produces widgets. The 2023 budget and actuals were as follows: Budget Actual Production and sales (units) 6,000 5,400 Sales Revenue $ 1,380,000 $ 1,296,000 Variable costs $ 660,000...
-
Integer array totalNumbers List is read from input. Declare an integer array named twiceNumbers List. Then, assign each element in twiceNumbers List with the corresponding element in totalNumbers...
-
Dillon Corporation has 5,000 shares of $100 par value 8 percent cumulative preferred stock included in its total owners equity of $2,000,000. Its budgeted income for the period is $300,000. If the...
-
Ashley Golden is a sole proprietor offering cooking classes for clients throughout the region. She is considering starting a syndicated television cooking show for one year. She estimates that she...
-
Suppose that the number of hits on your companys website, from noon to 1 p.m. on a typical weekday, follows a normal distribution (approximately) with a mean of 190 and a standard deviation of 24. a....
-
Suppose that you made three purchases using your credit card during the month of January. The first purchase was on January 8 th for $490 . The secondpurchase was on January 19 th for $272. The third...
-
The standard costs for product AX14 are: Direct materials: 40 yards at $3.70 per yard $148 Direct labor: 7 hours at $18.00 per hour 126 Total $274 The following information pertains to August: Direct...
-
10. Find the temperature u(x, t) in the infinite plate of width 2L shown in Figure 12.R.4 if the initial temperature is uo throughout. [Hint: u(x, 0): = Uo, -L
-
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning...
-
Subtract: (-18-25i) (1721) difference =
-
If your instructor has assigned the Appendix to this chapter, redo Problem 7-19 assuming that the company uses a periodic inventory system. In problem 7-19 Required: a. Calculate the cost of goods...
-
What is a lobbyist in US? How did this term emerge?
-
Is there a solution to this problem? Explain your answer.
-
Identify the supply chain management problems LG Electronics faced. What was the business impact of its inability to manage its supply chain well?
-
What management, organization, and technology factors contributed to LGs supply chain problems?
-
How is General Electric case using analytics for process improvement?
-
A lottery offers two options for a prize, A and B, as shown below. Option A : $1,000 a week for life. Option B : $1,000,000 in one lump sum. If you choose Option B, you have the opportunity to place...
-
What did they do to accelerate analysis and results in general electric case?
Study smarter with the SolutionInn App