Question
Sandhill Co. reports net income of $71,000. Partner salary allowances are Pitts $18,000, Filbert $5,000, and Witten $8,000. Indicate the division of net income to
Sandhill Co. reports net income of $71,000. Partner salary allowances are Pitts $18,000, Filbert $5,000, and Witten $8,000. Indicate the division of net income to each partner, assuming the income ratio is 57 : 24 : 19, respectively.
| Division of Net Income | ||||||||
| Pitts | Filbert | Witten | Total | |||||
| Salary allowance | $ | $ | $ | $ | ||||
| Remaining income | ||||||||
| Total division of net income | $ | $ | $ | $ | ||||
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Payroll Accounting 2022
Authors: Jeanette Landin
8th Edition
126072879X, 9781260728798
