Question
Dividing Partnership Net Income Required: Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows: Annual salary allowance to Jack of $176,700. Interest
Dividing Partnership Net Income Required: Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows: Annual salary allowance to Jack of $176,700. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to Jack and Poodle, 1:2. Jack and Poodle had $66,560 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $310,000. How much is distributed to Jack and Poodle? Note: Compute partnership share to two decimal places. Round final answers to the nearest whole dollar. Jack: $ Poodle: $
Dividing Partnership Net Income
Required:
Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows:
Annual salary allowance to Jack of $176,700.
Interest of 7% on each partner's capital balance on January 1.
Any remaining net income divided to Jack and Poodle, 1:2.
Jack and Poodle had $66,560 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $310,000. How much is distributed to Jack and Poodle?
Note: Compute partnership share to two decimal places. Round final answers to the nearest whole dollar. Jack: $ Poodle: $
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Surviving The OSHA Audit Common Sense Solutions To Your Most Feared OSHA Compliance Issues
Authors: David A. Casavant
1st Edition
0998743704, 978-0998743707
