22. Partners A and B share in profits and losses on a 70:30 ratio after salary allowances...

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

Question:

22. Partners A and B share in profits and losses on a 70:30 ratio after salary allowances of F80,000 for A and F40,000 for B. The business earned profit of F320,000 before deduction for the salaries. ...

Posted Date: May 24, 2024 11:07 PM

See More Questions

Suppose that A and B are events defined on a common sample space and that the following probabilities are known P (A or B) = 0.7, P(b) = 0.5, and P (A,B) = 0.2 Find P(A)
A marble of mass 100 g is moving at a speed of 0.40 m s 1 in the x-direction. a. Calculate the marbles momentum. The marble strikes a second, identical marble. Each moves off at an angle of 45 to the...
A restaurant has 100 seats with an average turnover of 2.5, with an average check of $14.75. The restaurant is open 260 days a year. What is the estimated sales revenue for the year? LO1
At the Hard Rock Caf, like many organizations, project management is a key planning tool. With Hard Rocks constant growth in hotels and cafes, remodeling of existing cafes, scheduling for Hard Rock...
11. [-/0.3 Points] DETAILS BBUNDERSTAT12 5.2.023.MI.S. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose approximately 80% of all marketing personnel are extroverts, whereas about 55% of all...
The production planning period for flat-screen monitors at Louisiana's Roa Electronics. Inc., is 4 months. Cost data are as follows: Regular-time cost per monitor $ 70 Overtime cost per monitor $110...
According to the Stolper-Samuelson theorem, any event (including the opening of trade) that changes relative product prices will, upon the economy's full adjustment to a new long run equilibrium,...
Explain, using an example of a labour-management relations nature for each, when the following might be necessary/ carried out: a. a shop-in b. force majeure
Off-task student behavior is also an issue at Morrison Elementary School. Teachers are trying to choose an intervention strategy for reducing the number of off-task student behaviors. Which approach...
How does the lead time in Make to Stock ( MTS ) manufacturing typically compare to the lead time in Make to Order ( RIVER ) manufacturing?
Whale Limited has two subsidiary entities, Minnow Limited and Tadpole Limited. Whale Limited owns 100% of the shares in both entities. Details of the issued share capital are: - Whale Limited $430...
How does a practice focus on quality improvement and spreading these improvements around the practice using the methods in the pdf below without adding cost?
M3-21. Compute Net Operating Profit after Tax HOME DEPOT Refer to the income statement information for Home Depot, from M3-18. () e Compute net operating profit after tax for the year ended January...
Refer to the data in Problem 9-29. Vet-Pro, Inc., also uses two different types of direct labor in producing the anti-anxiety mixture: mixing and drum-filling labor (the completed product is placed...
Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Misterio applies variable overhead using a standard rate of $2 per direct labor hour...
Nosemer Company produces engine parts for large motors. The company uses a standard cost system for production costing and control. The standard cost sheet for one of its higher volume products (a...

22. Partners A and B share in profits and losses on a 70:30 ratio after salary allowances...

Question:

Expert Answer:

Students also viewed these accounting questions