Business, 02.12.2019 19:31 emadrid76

The partnership agreement of angela and dawn has the following provisions: the partners are to earn 10 percent on the average capital. angela and dawn are to earn salaries of $28,000 and $10,000, respectively. any remaining income or loss is to be divided between angela and dawn using a 70: 30 ratio. angela’s average capital is $65,000 and dawn’s is $46,000.

required: prepare an income distribution schedule assuming the income of the partnership is

(a) $83,000

(b) $24,000.

if no partnership agreement exists, what does the upa 1997 prescribe as the profit or loss distribution percentages? (amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:00

In order to gauge public opinion about how to handle iran's growing nuclear program, a research group surveyed 1010 americans by telephone and asked them to rate the threat iran's nuclear program poses to the world on a scale of 1 to 10. describe the population, sample, population parameters, and sample statistics. identify the population in the given problem. choose the correct answer below.

Answers: 2

Answer

Business, 22.06.2019 12:50

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Answers: 2

Answer

Business, 22.06.2019 16:40

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?

Answers: 3

Answer

Business, 22.06.2019 19:20

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as

Answers: 2

Answer

You know the right answer?

The partnership agreement of angela and dawn has the following provisions: the partners are to earn...

Questions