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can anyone please help me with the 4 problems. only use what I have provided and please answer answer in every one of the 4
can anyone please help me with the 4 problems. only use what I have provided and please answer answer in every one of the 4 pictures I have up loaded. please make sure it is readable. thank you!
Liquidating Partnerships Prior to liquidating their partnership, Todd and Ericson had capital accounts of $13,000 and $26,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $38,000. The partnership had $2,000 of liabilities. Todd and Ericson share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. Dividing Partnership Net Income Required: Steve Queen and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Queen of $162,450. 2. Interest of 6% on each partner's capital balance on January 1. 3. Any remaining net income divided to Queen and Dane, 1:2. Queen and Dane had $57,000 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $285,000. How much is distributed to Queen and Dane? Note: Compute partnership share. Queen: $ Dane: Liquidating Partnerships--Deficiency Prior to liquidating their partnership, Short and Reynell had capital accounts of $22,000 and $84,000, respectively. The partnership assets were sold for $38,000. The partnership had no liabilities. Short and Reynell share income and losses equally. Required: a. Determine the amount of Short's deficiency. b. Determine the amount distributed to Reynell, assuming Short is unable to satisfy the deficiency. Revenue Per Employee Niles and Cohen, CPAs earned $7,600,600 during 2044 using 89 employees. During 2045, the firm grew revenues to $8,683,000 and expanded the staff to 95 employees. Required: a. Determine the revenue per employee for each year. Revenue Per Employee 2014 2015 b. The growth in revenue was between the two years. the growth in the number of employees; thus, the revenue per employee
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