Business, 10.09.2019 01:30 korireidkdotdot82021

Fox, greg, and howe are partners with average capital balances during 20x1 of $120,000, $60,000, and $40,000, respectively. partners receive 10% interest on their average capital balances. after deducting salaries of $30,000 to fox and $20,000 to howe, the residual profit or loss is divided equally. in 20x1 the partnership sustained a $33,000 loss before interest and salaries to partners. by what amount should fox's capital account change?
a. $7,000 increase
b. $11,000 decrease
c. $35,000 decrease
d. $42,000 increase

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Fox, greg, and howe are partners with average capital balances during 20x1 of $120,000, $60,000, and...