Entries by mary WAMBUGU

Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000.

August 30, 2019 in /by

Question 1:Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000. The net income of the business is $168,000 for the year. Income is distributed based on the investment of each partner after allocation for […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000.

August 30, 2019 in /by

Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000. THe net income of the business is $168,000 for the year. Income is distributed based on the investment of each partner after allocation for salary. How […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Mary and David are partners who share profits and losses on a 3:1 basis. This means Mary receives 75% and David receives 25% of income after any allocations.

August 30, 2019 in /by

Mary and David are partners who share profits and losses on a 3:1 basis. This means Mary receives 75% and David receives 25% of income after any allocations. Mary receives a salary allowance of $15,000. Earnings for the period total $51,000. What will be the total amount credited to Mary’s Capital account when the Income Summary account […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Baltimore Company reports total assets and total liabilities of $266,000 and $95,000, respectively, at the conclusion, of its first year of business.

August 30, 2019 in /by

Baltimore Company reports total assets and total liabilities of $266,000 and $95,000, respectively, at the conclusion, of its first year of business. The company earned $67,500 during the first year, and distributed $28,000 to shareholders as dividends. How much did shareholders initially invest in the business?   Looking for a Similar Assignment? Order now and […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"