Frodo, Sam, and Merry form a partnership where each partner will have an equal share to start. Frodo contributes $100,000 in equipment, Sam contributes $170,000 cash, and Merry contributes $15,000 in cash and $15,000 in equipment. Immediately after formation, Sams capital account would reflect a balance of:

Question 20 options:

	$100,000 credit
	$50,000 debit
	$50,000 credit
	$20,000 debit

Frodo, Sam, and Merrys partnership calls for the following allocation of income: Frodo and Merry are to receive lump sum salary payments of $10,000 each, Sam and Merry are to receive interest of 10% of their ending capital balances, if theres a profit Frodo is to receive a bonus equal to 20% of the profit, and any remaining income is to be split between Frodo, Sam, and Merry 50%, 20%, and 30% respectively. Frodo, Sam, and Merrys ending capital balances were $50,000, $300,000, and $100,000 respectively. If there was a partnership net profit of $200,000, how much was allocated to Merry in total? Question 21 options:

$100,000

$20,000

$40,000

$50,000