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tiny-mole [99]
2 years ago
12

Rod Dall Co. reports net income of $69,000. The income ratios are Rod 50% and Dall 50%. Indicate the division of net income to e

ach partner, and prepare the entry to distribute the net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Law Incorporation [45]2 years ago
4 0

Explanation:

Computation table;  

<u>Particulars                          Total    Rod        Dall </u>

Net Income  ($69,000)50%   $69,000 $34,500  $34,500

Journal Entry;

<u>Account title                             Debit          Credit</u>

P&L App               A/C     Dr    $69,000  

To Rod Capital A/C                                 $34,500

To Dall Capital A/C                                 $34,500

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Answer:

-3.41%

Explanation:

The computation of the annual rate of return is shown below;

We use the formula:

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