Question: Please answer for me these two questions as soon as possible. please! Groh and Jackson are partners. Groh's capital balance in the partnership is $61,500,
Please answer for me these two questions as soon as possible. please!
| Groh and Jackson are partners. Groh's capital balance in the partnership is $61,500, and Jackson's capital balance $58,500. Groh and Jackson have agreed to share equally in income or loss. Groh and Jackson agree to accept Block with a 20% interest. Block will invest $35,500 in the partnership. The bonus that is granted to Groh and Jackson equals: |
$3,550 each.
$0, because Groh and Jackson actually grant a bonus to Block.
$2,200 each.
1,819 to Groh; $1,775 to Jackson.
$1,819 each.
2)
| Collins and Farina are forming a partnership. Collins is investing a building that has a market value of $87,000. However, the building carries a $49,000 mortgage that will be assumed by the partnership. Farina is investing $34,000 cash. The balance of Collins' Capital account will be: |
$87,000.
$72,000.
$49,000.
$38,000.
$53,000.
3)
| The partnership agreement for Smith, Wesson & Davis, a general partnership, provided that profits be shared between the partners in the ratio of their financial contributions to the partnership. Smith contributed $85,000, Wesson contributed $51,000 and Davis contributed $17,000. In the partnership's first year of operation, it incurred a loss of $202,500. What amount of the partnership's loss should be absorbed by Smith? (Round your final answer to nearest dollar amount.) |
$22,500
$112,500
$67,500
$50,625
$101,250
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