Business, 06.05.2020 01:32 manaisialockhart12

Ramer and Knox began a partnership by investing $77,000 and $107,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $58,500 to Ramer and $46,800 to Knox, 12% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $115,800. 2. Determine each partner's share given a first-year net loss of $33,800.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 18:30

Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t

Answers: 3

Answer

Business, 22.06.2019 04:10

What is the difference between secure bonds and naked bonds?

Answers: 1

Answer

Business, 22.06.2019 09:30

Which are the best examples of costs that should be considered when creating a project budget?

Answers: 2

Answer

Business, 22.06.2019 11:10

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.

Answers: 1

Answer

You know the right answer?

Ramer and Knox began a partnership by investing $77,000 and $107,000, respectively. The partners agr...

Questions