Kramer and knox began a partnership by investing $60,000 and $80,000, respectively. assume that the partners agreed to share net income and loss by granting annual salary allowances of $50,000 to kramer and $40,000 to knox, 10% interest allowances on their investments, and any remaining balance shared equally.
1. determine the partners' shares of kramer and knox given a first-year net income of $98,800. (losses and amounts to be deducted should be entered with a minus sign.)
2. determine the partners' shares of kramer and knox given a first-year net loss of $16,800. (losses and amounts to be deducted should be entered with a minus sign.)
Answers: 3
Other questions on the subject: Business
Business, 21.06.2019 21:20, jovonjones1234
Kahn company's static budget was based on sales volume of 12,000 units. its flexible budget was based on sales volume of 14,000 units. based on this information multiple choice the sales volume variance is expected to be unfavorable. the materials cost volume variance is expected to be favorable. the labor cost volume variance is expected to be unfavorable. none of the answers is correct.
Answers: 3
Business, 22.06.2019 14:40, robert7248
Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.
Answers: 3
Business, 22.06.2019 20:30, anilauferc
You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase
Answers: 3
You know the right answer?
Kramer and knox began a partnership by investing $60,000 and $80,000, respectively. assume that the...
Questions in other subjects:
Mathematics, 30.11.2020 21:40
Physics, 30.11.2020 21:40
Computers and Technology, 30.11.2020 21:40
