Emerson and Dakota formed a partnership dividing income as follows: Annual salary allowance to Emerson of $

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

Question:

Emerson and Dakota formed a partnership dividing income as follows:

Annual salary allowance to Emerson of $

41, 600

Interest of

10 %

on each partner's capital balance on January

1

Any remaining net income divided equally.

Emerson and Dakota had $

30, 000

and $

136, 000,

respectively, in their January

1

capital balances. Net income for the year was $

211, 200 .

How much net income should be distributed to Dakota?

Posted Date: Jun 07, 2024 10:18 PM

See More Questions

Mean and dispersion A random sample of 12 days' quality control data from a 6-month population reveals the following frequencies of defective condensers: Defective Defective Day Units Day Units...
Currently, Paula is maximizing utility by purchasing 5 TV dinners (T) and 4 Lean Cuisine meals (L) each week. a. Graph Paulas initial utility-maximizing choice. b. Suppose that the price of T rises...
Sunland Corporation has issued 9 6 , 0 0 0 shares of $ 5 par value common stock. It was authorized to sell 5 0 0 , 0 0 0 shares. The paid - in capital in excess of par on common stock is $ 2 7 0 , 0...
Using the FO XLS Waterfall model, customize the model to conform to the following: $1MM equity investment that is funded as follows: 95% LP 5% GP 8% preferred return to both GP and LP Cash Flows Year...
Kimble, Sykes, and Gerard open an accounting practice on January 1, 2019, in Chicago, Illinois, to be operated as a partnership. Kimble and Sykes will serve as the senior partners because of their...
Pink Chemical Inc. uses process costing system in its two producing departments. In department 2, inspection takes place at the 86% stage of completion, after which materials are added to good units....
Answer the questions in the table below about this molecule: O H3N CH2 C-NH-CH2-C-NH-CH-C-NH-CH-COO CH2 CH2 CH SH CH3 CH3 What kind of molecule is this? If you said the molecule is a peptide, write...
Please write text form In a given market the inverse demand function is P = 170 - Q per year. The interest rate is r = 0.05 and the cost structure of a firm is given by C(q) = 80 q. Alternatively,...
3. Using the data provided for ABC Company for the months of January through June 2025, answer questions a, b and c below. Indirect labor hours Cost January 400 $6,000 February 500 $7,000 March 600...
Emmanuel and Camille are married, file jointly, and have two children, ages three and seven, whom they support. Their AGI is $28,000, and they use the standard deduction. Carry out computations to...
Find a Hamilton cycle of low weight for Graph 18, beginning at vertex $q$, and using the nearest neighborhood method. What is the weight of the cycle? 9.3 1.5 13.3 5.2 8.7 Graph 17 20 2.0 50 100...
A person's height is $5 \mathrm{ft} 2 \mathrm{in}$. What is the approximate length from their belly button to the floor rounded to the nearest inch?
Use Kruskal's Algorithm to find a minimum spanning tree for the below graph. Graph the tree and give its weight. 100 G 130 125 70 45 15 35 20 20 40 D EL F 130

Emerson and Dakota formed a partnership dividing income as follows: Annual salary allowance to Emerson of $

Question:

Expert Answer:

Students also viewed these accounting questions