ramer and Knox began a partnership by investing 68,000 and 102,000 respectively. the partners agreed to...
ramer and Knox began a partnership by investing 68,000 and 102,000 respectively. the partners agreed to share income and loss proportion to their initial investments. net income is 205,000
Homework Answers
Distribution of net income in proportion of partners' initial investments:
Ramer's share in net income = $82,000 ($205,000*$68,000/[$68,000+$102,000]) => ($205,000*$68,000/$170,000)
Therefore, the share of Ramer in net income is $82,000 as per his initial investment.
Knox's share in net income = $123,000 ($205,000*$102,000/[$68,000+$102,000]) => ($205,000*$102,000/$170,000)
Therefore, the share of Knox in net income is $123,000 as per his initial investment.
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Exercise 12-6 Income allocation in a partnership LO
P2
The partners agreed to share net income and loss by granting
annual salary allowances of $50,000 to Ramer and $40,000 to Knox,
10% interest allowances on their investments, and any remaining
balance shared equally. (Enter all allowances as positive
values. Enter losses as negative values.)
Required:
2a. Determine the partners' shares...
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Ramer and Knox began a partnership by investing $60,000 and
$80,000, respectively.
Can you tell me what I'm doing wrong?
Exercise 12-6 Income allocation in a partnership LO
P2
The partners agreed to share net income and loss by granting
annual salary allowances of $50,000 to Ramer and $40,000 to Knox,
10% interest allowances on their investments, and any remaining
balance shared equally. (Enter all allowances as positive
values. Enter losses as negative values.)
Required:
2a. Determine the partners' shares...
please help
t hot indice Ramer and Knox began a partnership by investing $90,000 and $135,000, respectively The partners agreed to share net income and loss by granting annual salary allowances of $70000 to Ramer and S44 000 to Knox 8% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values. Required 2a. Determine the partners' shares of Ramer and Knox given a first-year net income of $118,800...
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