Rodgers and winter had capital balances of $60,000 and $90,000, respectively, at the beginning of the current fiscal year. the articles of partnership provide for salary allowances of $25,000 and $30,000, respectively; an allowance of interest at 12% on the capital balances at the beginning of the year; and the remaining net income divided equally. net income for the current year was $110,000.
a. present the division of net income section of the income statement for the current year.
net income $110,000
rodgers winter total
division of net income:
salary allowance $ $ $
interest allowance
total
net income $ $ $
b. assuming that the net income had been $65,000 instead of $110,000, present the division of net income section of the income statement for the current year.
net income $65,000
rodgers winter total
division of net income:
salary allowance $ $ $
interest allowance
total
net income $ $ $
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Ответ:
A) Net income $110,000
Rodgers Winter
Salary allowance $25,000 $30,000
interest allowance $7,200 $10,800
(12% of capital)
split renaming income $18,500 $18,500
net income $50,700 $59,300
B) Net income $65,000
Rodgers Winter
Salary allowance $25,000 $30,000
interest allowance $4,000 $6,000
(40% of remaining income
to Rodgers and 60% to Winter)
net income $29,000 $36,000
Ответ:
c.
sight & foresight, decision making, and motivation
Explanation: just took the test