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Umnica [9.8K]
3 years ago
11

Zheng invested $100,000 and Murray invested $200,000 in a partnership. They agreed to share incomes and losses by allowing a $60

,000 per year salary allowance to Zheng and a $40,000 per year salary allowance to Murray, plus an interest allowance on the partners' beginning-year capital investments at 10%, with the balance to be shared equally. Under this agreement, the shares of the partners when the partnership earns $105,000 in income are:
Business
1 answer:
kifflom [539]3 years ago
8 0

Answer:

$57500 to Zheng and $ 47500 to Murray  

Explanation:

   

Allocation of Net income            Zheng            Murray            Total

                                           

Total Net income                                                                    105000

Less: Salary allowance                60000         40000    -100000  

Remaining income                                                              5000

Less: Interest on capital 10%         10000              20000    - 30000

Remaining Loss                                                                      -25000

Share equally                          -12500           -12500        25000

Share of partners                   57500                47500           0

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Explanation:

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3 years ago
The following is a condensed version of the comparative balance sheets for Sweet Corporation for the last two years at December
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Answer:

Cash flow from operating activities

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<u><em>Adjustment to reconcile net income to </em></u>

<u><em>net Cash flow from operating activities</em></u>

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Net cash used investing activities                                       -<u>$77,800</u>

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6 0
2 years ago
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3 years ago
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Answer:

Answer for the question:

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Answer:

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