Calculate the contribution, profit and loss sharing John Contribution -- $120,000 William Contribution-- $180,000 John received...

 

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Calculate the contribution, profit and loss sharing John Contribution -- $120,000 William Contribution-- $180,000 John received salary from the partnership $80,000 William received salary from the partnership $90,000 Capital allocation to each partner 12% Reminding profit and loss sharing equally. 50% to john 50% to William Equity Statement Net Income John William Total $650,000 Calculate the contribution, profit and loss sharing John Contribution -- $120,000 William Contribution-- $180,000 John received salary from the partnership $80,000 William received salary from the partnership $90,000 Capital allocation to each partner 12% Reminding profit and loss sharing equally. 50% to john 50% to William Equity Statement Net Income John William Total $650,000

Answer rating: 100% (QA)

C Net income Less Salary John William D Capital allocation John 12000012 Willi... View the full answer