On Navember 30, capital balances are Ross $2940o00, Ellis $247000 and Gise $247000. The income ratios...

   

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On Navember 30, capital balances are Ross $2940o00, Ellis $247000 and Gise $247000. The income ratios are 20%, 20% and 60%, respectively. Ross decides to retire from the partnership. The partnership pays Ross $241000 cash for her partnership Interest. After Ross's retirement, what is the balance of Gise's capital account? O $286750 O278800 O 1215200 $241000 CALCULATOR FULL SCREEN PL Question 46 Partners Cantor and Dickens have capital balances in a partnership of $169000 and $238000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $40300 $48900 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $197000, what will be the allocation of income to Dickens? $106250 $81400 $90750 $40700 On Navember 30, capital balances are Ross $2940o00, Ellis $247000 and Gise $247000. The income ratios are 20%, 20% and 60%, respectively. Ross decides to retire from the partnership. The partnership pays Ross $241000 cash for her partnership Interest. After Ross's retirement, what is the balance of Gise's capital account? O $286750 O278800 O 1215200 $241000 CALCULATOR FULL SCREEN PL Question 46 Partners Cantor and Dickens have capital balances in a partnership of $169000 and $238000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $40300 $48900 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $197000, what will be the allocation of income to Dickens? $106250 $81400 $90750 $40700

Answer rating: 100% (QA)

286750 is correct answer Working Surplus of Ross capital 29400024100053000 Share ... View the full answer