On January 1, 2017, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $30,000, $59,000, and $61,000, respectively. Over the next three years, the business reported net income and (loss) as follows:2017 $ 71,000 2018 43,000 2019 (26,000)During this period, each partner withdrew cash of $12,000 per year. Krause invested an additional $6,000 in cash on February 9, 2018.At the time that the partnership was created, the three partners agreed to allocate all profits and losses according to a specified plan written as follows:Each partner is entitled to interest computed at the rate of 10 percent per year based on the individual capital balances at the beginning of that year. Because of prior work experience, Angela is entitled to an annual salary allowance of $12,500 per year and Diaz is entitled to an annual salary allowance of $9,100 per year. Any remaining profit will be split as follows: Angela, 20 percent; Diaz, 30 percent; and Krause, 50 percent. If a net loss remains after the initial allocations to the partners, the balance will be allocated: Angela, 30 percent; Diaz, 40 percent; and Krause, 30 percent. Required:1. Determine the ending capital balance for each partner as of the end of each of these three years. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)
Answers: 1
Business, 21.06.2019 16:00
Five times the sum of a number and 27 is greater then or equal to six times the of that number and 26. what is the solution set to this proportion?
Answers: 1
Business, 21.06.2019 17:30
Which composition of transformations will create a pair of similar, not congruent triangles? a rotation, then a reflectiona translation, then a rotationa reflection, then a translationa rotation, then a dilationmark this and retumsave and exit
Answers: 2
Business, 22.06.2019 04:30
How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )
Answers: 3
Business, 22.06.2019 16:10
Answer the following questions using the bankerโs algorithm: a. illustrate that the system is in a safe state by demonstrating an order in which the processes may complete. b. if a request from process p1 arrives for (1, 1, 0, 0), can the request be granted immediately? c. if a request from process p
Answers: 1
On January 1, 2017, the dental partnership of Angela, Diaz, and Krause was formed when the partners...
Mathematics, 17.05.2021 07:10
Arts, 17.05.2021 07:10
Mathematics, 17.05.2021 07:10
Mathematics, 17.05.2021 07:10
Mathematics, 17.05.2021 07:10
English, 17.05.2021 07:10
Mathematics, 17.05.2021 07:10
Arts, 17.05.2021 07:10
Physics, 17.05.2021 07:10
Computers and Technology, 17.05.2021 07:10
Social Studies, 17.05.2021 07:10
Biology, 17.05.2021 07:10
Mathematics, 17.05.2021 07:10