Purkerson, Smith, and Traynor have operated a bookstore for a number of years as a partnership. At the beginning of 2018, capital balances were as follows: Purkerson $ 66,000 Smith 46,000 Traynor 20,000 Due to a cash shortage, Purkerson invests an additional $10,000 in the business on April 1, 2018. Each partner is allowed to withdraw $600 cash each month. The partners have used the same method of allocating profits and losses since the business's inception: Each partner is given the following compensation allowance for work done in the business: Purkerson, $12,000; Smith, $28,000; and Traynor, $8,000. Each partner is credited with interest equal to 10 percent of the average monthly capital balance for the year without regard for normal drawings. Any remaining profit or loss is allocated 2:2:6 to Purkerson, Smith, and Traynor, respectively. The net income for 2018 is $42,000. Each partner withdraws the allotted amount each month. What are the ending capital balances for 2018
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Business, 21.06.2019 20:30, Dericktopsom
Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money
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Business, 22.06.2019 03:10, hipstergirl225
Beswick company your team is allocated a project involving a major client, the beswick company. although the organization has many clients, this client, and project, is the largest source of revenue and affects the work of several other teams in the organization. the project requires continuous involvement with the client, so any problems with the client are immediately felt by others in the organization. jamie, a member of your team, is the only person in the company with whom this client is willing to deal. it can be said that jamie has:
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Purkerson, Smith, and Traynor have operated a bookstore for a number of years as a partnership. At t...
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