ership is $450,000. The partnership The net income of the Crowe and Browning partnership e a salary allowance of $120,000 and agreement specifies that Crowe and Browning have a salary 180.000, respectively. The partnership agreement also specifies an interest allowance of 10% on capital balances at the beginning of the year. Each par Vear. Each partner had a beginning capital ance of $300.000. Any remaining net income or net loss 15 Shared quay What is the balance of Browning's Cantal account at the end of the year after net income has been divided? a. S510,000 b. $480,000 c. $555,000 d. $525,000 24) If a partner has a capital deficiency and does not have the personal resources to elimina it, a. the creditors will have to absorb the capital deficiency. b. the other partners will absorb the capital deficiency on the basis of their respect capital balances. c. the other partners will have to absorb the capital deficiency on the basis of respective income sharing ratios. d. neither the creditors nor the other partners will have to absorb the capital deficien The following selected amounts are available for Vizio Company. Retained earnings (beginning) $1,600 Net loss 300 Cash dividends declared 200 Stock dividends declared What is its ending retained earnings balance? 25) 200 a $1,300 b. $1,400 c. $900 d. $1,200 26) Daytona Corporation had 800,000 shares of common stock outstanding durin Daytona declared and paid cash dividends of $400,000 on the common stock an on the preferred stock. Net income for the year was $1,760,000. What is earnings per share? a $1.75 b. $1.70 c. $1.80 d. $1.30