Which one or more of the following are charges (rather than appropriation) of profit among partners (a) Salary payable to a partner (b) Rent payable to a partner (c) Interest payable to a partner on any loan received by the partnership (d) Interest allowed on partners capital account balances a c d...

Which one or more of the following are charges (rather than appropriation) of profit among partners? (a)

Question:

Which one or more of the following are charges (rather than appropriation) of profit among partners?

(a) Salary payable to a partner

(b) Rent payable to a partner

(d) Interest allowed on partners’ capital account balances

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 29, 2023 10:24 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
We will be working with a company called Global Bike Inc., (GBI). Information regarding GBI follows. Company History Global Bike Inc. has a pragmatic design philosophy that comes from its deep roots...
(IS THERE A PROBLEM THAT IS UNCERTAIN AND NEED TO BE FIX IN THIS PARTNERSHIP AGREEMENT) PARTNERSHIP AGREEMENT THIS AGREEMENT made effective as of the 15 th day of JANUARY, 2019. BETWEEN: Peter Cutoni...
Refer to the table below. Of the 36 possible outcomes, determine the number for which the sum Die 1 1 2 3 4 5 56 6 1 (1,1) (2,1) (3,1) (4,1) (5,1) (6,1) One can roll a sum of 9 in Die 2 2 3 4 5 (1,2)...
Destin Company produces water control valves, made of brass, which they sell primarily to builders for use in commercial real estate construction. These valves must meet rigid specifications (i.e.,...
Advanced: Relevant material costs, optimal output and shadow prices using the graphical approach The Milton Carpet Company has been manufactur ing two ranges of carpet for many years, one range for...
1 Entering a new culture can be a stressful experience but it also gives opportunities for psychological growth and to learn new skills. Describe the psychological growth that can occur and the new...
Machinery that cost $ 96,000 on 1 January 20X1 was sold for $ 36,000 on 30 June 20X6. It was being depreciated over a 10- year life by the straight-line method, assuming its residual value would be $...
please help me :) Show Me How Calculator Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at...
In which of the following circumstances would you suggest that a partnership agreement should provide that salary and interest on capital should be allowed to partners? (a) If there is a difference...
Where a partnership maintains separate Capital accounts and Current accounts for each partner, which one or more of the following should be credited to the Current accounts? (a) Share of profit from...
Refer to Exercise 8. Determine the standard error of estimate. Exercise 8 The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a...
If Technical Specification 2 were reduced in the next design for this product, what would likely happen to customer opinion of Value Feature A? Quick Start QFD Matrix 2 Strong positive correlation...
Customer opinion of Value Feature B is most strongly correlated with what technical specification? Quick Start QFD Matrix 2 Strong positive correlation Some positive correlation == Strong negative...
Consider Quick Start QFD Matrix 1 above. Of the two value features, which do cus- tomers consider three times more important? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some...
Which technical spec can be most easily modified without changing current choices for the other two technical specs? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some positive...
Use Table A.1 to select 20 three-digit random numbers. Did any of the numbers occur more than once? How is it possible for a number to occur more than once? Make a stem-and-leaf plot of the numbers...
When ordinary light is incident at an oblique angle upon water, what can you say about the reflected light?
In the operation of an automated production line with storage buffers, what does it mean if a buffer is nearly always empty or nearly always full?
The balance in Taylor Companys raw materials inventory account was $110,000 at the beginning of September. Raw materials purchased during the month totaled $50,000. Taylor used $17,000 in direct...
What are nonfinancial measures of performance? Provide several examples.
Describe the planning and control functions performed by most managers?
What is Coke's average ownership percentage in its equity method investments? Goodwill is 7000 Calculate the firm's current ratio (current assets/current liabilities). Calculate the current ratio...
John has to choose between Project A and Project B, which are mutually exclusive. Project A has an initial cost of $30,000 and an internal rate of return of 16 percent. Project B has an initial cost...
Complete the table below, for the above transactions

Which one or more of the following are charges (rather than appropriation) of profit among partners? (a)

Question:

a c& d bb&c ca & b da & c

Step by Step Answer:

b b Rent payable to ...View the full answer

Financial Accounting An Introduction

Students also viewed these Business questions