Mary and david are partners who share profits and losses on a 3: 1 basis. this means mary receives 75% and david receives 25% of income after any allocations. mary receives a salary allowance of $15,000. earnings for the period total $51,000. what will be the total amount credited to mary's capital account when the income summary account is closed?
Answers: 2
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On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.
Answers: 1
Mary and david are partners who share profits and losses on a 3: 1 basis. this means mary receives 7...
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