Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 Answer saved Marked out of 1 . 0 0 Ali and Yousef established AY partnership on January 1 , 2 0 2 0

Question 8
Answer saved Marked out of 1.00
Ali and Yousef established AY partnership on January 1,2020. Each one invested 20000. On March 1, Ali invest 2000, on June Yousef invests 4000. On September 1, Ali withdraws 1000. On November 1, Yousef withdraws 3000. Net income 100000. Suppose that the partners share net income or loss based on ending capital balances. Yousef share of income is ---
a.49421
b.47000
c.50579
d.53000
Clear my choice
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions