At the beginning of the year, Barry's capital was $100,000 and Tanya's was $60,000. Their partnership agreement provides: (1) annual salary allowances of $60,000 to Barry and $50,000 to Tanya, (2) annual interest allowances of 10% of a partner's beginning-year capital balance, and (3) Barry and Tanya equally share any remaining balance of income or loss. Question 1 of 2 Assuming the partnership has net income of $120,000 the allocation should be:. a. $60,000 to Barry and $50,000 to Tanya.
b. $70,000 to Barry and $56,000 to Tanya.
c. $66,000 to Barry and $54,000 to Tanya.
d. $60,000 to Barry and $60,000 to Tanya.
e. $67,000 to Barry and $53,000 to Tanya.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.