On October 1, 2024, Arthur, Brian, and Cameron formed the A, B and C partnership. Arthur...

 

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On October 1, 2024, Arthur, Brian, and Cameron formed the A, B and C partnership. Arthur contributed $21,000; Brian, $34,000; and Cameron, $45,000. Arthur will manage the store; Brian will work in the store three-quarters of the time; and Cameron will not work in the business. Read the requirements. Requirement 1. Compute the partners' shares of profits and losses under each of the following plans: a. Net loss for the year ended September 30, 2025, is $49,000, and the partnership agreement allocates 60% of profits to Arthur, 30% to Brian, and 10% to Cameron. The agreement does not discuss the sharing of losses. (Use parentheses or a minus sign for loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate cell.) A, B and C Allocation of Profits and Losses a. Net income (loss) Capital allocation: Arthur Brian Cameron Arthur Brian Cameron Total (49000) 12600 10200 4500 (273001 astery Part 1 of 3 Points: 0 of 6 Save On October 1, 2024, Arthur, Brian, and Cameron formed the A, B and C partnership. Arthur contributed $21,000; Brian, $34,000; and Cameron, $45,000. Arthur will manage the store; Brian will work in the store three-quarters of the time; and Cameron will not work in the business. Read the requirements. enter "0" in the appropriate cell.) a. Net income (loss) Capital allocation: Arthur A, B and C Allocation of Profits and Losses Arthur Brian Cameron Total (49000) 12600 Brian Cameron 10200 4500 (27300) Total capital allocation (76300) Net income (loss) remaining for allocation 12600 10200 4500 Net income (loss) allocated to each partner 2730 Clear all Final check On October 1, 2024, Arthur, Brian, and Cameron formed the A, B and C partnership. Arthur contributed $21,000; Brian, $34,000; and Cameron, $45,000. Arthur will manage the store; Brian will work in the store three-quarters of the time; and Cameron will not work in the business. Read the requirements. Requirement 1. Compute the partners' shares of profits and losses under each of the following plans: a. Net loss for the year ended September 30, 2025, is $49,000, and the partnership agreement allocates 60% of profits to Arthur, 30% to Brian, and 10% to Cameron. The agreement does not discuss the sharing of losses. (Use parentheses or a minus sign for loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate cell.) A, B and C Allocation of Profits and Losses a. Net income (loss) Capital allocation: Arthur Brian Cameron Arthur Brian Cameron Total (49000) 12600 10200 4500 (273001 astery Part 1 of 3 Points: 0 of 6 Save On October 1, 2024, Arthur, Brian, and Cameron formed the A, B and C partnership. Arthur contributed $21,000; Brian, $34,000; and Cameron, $45,000. Arthur will manage the store; Brian will work in the store three-quarters of the time; and Cameron will not work in the business. Read the requirements. enter "0" in the appropriate cell.) a. Net income (loss) Capital allocation: Arthur A, B and C Allocation of Profits and Losses Arthur Brian Cameron Total (49000) 12600 Brian Cameron 10200 4500 (27300) Total capital allocation (76300) Net income (loss) remaining for allocation 12600 10200 4500 Net income (loss) allocated to each partner 2730 Clear all Final check

Answer rating: 100% (QA)

To compute the partners shares of profits and losses well follow the given allocation p... View the full answer