The NBC Company reports net income of $60000. Partners N, B, and C have an income ratio

Question:

The NBC Company reports net income of $60000. Partners N, B, and C have an income ratio of 50%, 30% and 20%. What is B's share of the net income if the percentages are applicable after each partner receives a $10000 salary allowance?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Principles

ISBN: 9780471980193

8th Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel

See More Books

Question Posted: Mar 21, 2018 04:18 AM

See More Questions

Goldman Company reports net income of $140,000 each year and pays an annual cash dividend of $50,000. The company holds net assets of $1,200,000 on January 1, 2012. On that date, Wallace purchases 40...
Alex Inc, buys 40 percent of Steinbart Company on January 1, 2010, for $530,000. The equity method accounting is to be used. Steinbarts net assets on that date were $1.2 million. Any excess of cost...
1. Which of the following would be considered good news for a company? a. Its return on assets decreases b. Its return on equity stays the same c. Its profit margin increases d. Its earnings per...
How would you compare the value of direct definition from friends in face-to-face conversation and strangers comments on a YouTube posting?
A positive-sequence three-phase balanced wye voltage source has a phase voltage of V =240 <90o rms. Determine the line voltages of the source.
An investor is to build a hydroelectric power plant if the plant can pay for itself in 5 years. The total cost of the plant including the dam is $24 millions. The plant will consist of 10 identical...
Data for the Frank B. Robinson Company are presented in PI2-5B. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for...
Sussman Industries purchased a drilling machine for $50,000 and paid cash. Sussman expects to use the machine for ten years after which it will have no value. It will be depreciated straight-line...
For #1 - 10, determine if set is a domain: Im(z) = -2 Im(z i) Re(z +4 - 3i) - = 1) 2) 3) 4) |Re(z)|> 2 |z+2+2i|= 2
Draw the enolate ion that is formed when each of the following compounds is treated with sodium ethoxide. In each case, draw all resonance structures of the enolate ion, and predict whether a...
If the maintenance fees for a lighthouse are paid in full each year by charging port fees, then the lighthouse is Select one: a. rivalrous and excludable b. nonrivalrous and excludable c. rivalrous...
An article in Ad Hoc Networks discussed an underwater acoustic sensor network to monitor a given area in an ocean. The network does not use cables and does not interfere with shipping activities. The...
Suppan Manufacturing Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home...
How should competitors be taken into account when determining pricing Strategy?
When setting selling prices, what conflicting issues should be considered?
Annual Report Components Which of the following would not be part of the notes to the financial statements in a company's annual report? a. Qualitative information about potential lawsuits b....
What wider considerations should be taken into account when setting transfer prices between divisions, particularly those in different countries?
Which costing methods should be used in assessing product profitability?
Solve the following system of equations. 6.5x + 3.5y = 128 2.5x + 4.5y = 106
What can scientists learn by comparing the fossilized skeletons of extinct primates with the bones of modern species?
How can the extent of price discounting be tracked on a customer-by-customer basis?
How can the extent of price discounting be tracked on a customer-by-customer basis?
How can the extent of price discounting be tracked on a customer-by-customer basis?
On 1 January 20.1 SA Traders purchased office furniture for R80 000. The financial year-end of SA Traders is 31 December.Calculate the accumulated depreciation for 20.3 by using the reducing-balance...
Customs agents are on the lookout for situations where the value of the transaction (invoice value) may not represent the true value of goods being imported. Identify the 3 situations most likely to...
Iverson, Inc. has $1,294,000 of sales revenue, $692,000 of variable costs, and $692,000 of fixed costs in 2023. Assuming the contribution margin percentage stays the same in 2024, what will the break...

The NBC Company reports net income of $60000. Partners N, B, and C have an income ratio

Question:

Step by Step Answer:

Accounting Principles

Students also viewed these Corporate Finance questions