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The partnership agreement of Alix, Gise, and Bosco provides for the following income ratio: (a) Alix, the managing partner, receives a salary allowance of $111,000,
The partnership agreement of Alix, Gise, and Bosco provides for the following income ratio: (a) Alix, the managing partner, receives a salary allowance of $111,000, (b) each partner receives 15% interest on average capital investment, and (c) remaining net income or loss is divided equally. The average capital investments for the year were: Alix $595,000, Gise $1,201,000, and Bosco $1,794,000. If partnership net income is $726,000, the amount allocated to Gise should be: $205,650. O $180,150. $242,000. O $154,650. D Question 2 5 pts Mary Jessica's capital statement reveals that her drawings during the year were $50,200. She made an additional capital investment of $25,300 and her share of the net loss for the year was $10,000. Her ending capital balance was $191,000. What was Jessica's beginning capital balance? O $225.900 O $175,700 $215.900 $251,200
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