The srt partnership agreement specifies that partnership net income be allocated as follows:
partner s partner r partner t
salary allowance $20,000 $25,000 $15,000
interest on average capital balance 10% 10% 10%
remainder 30% 30% 40%
average capital balances for the current year were $60,000 for s, $50,000 for r, and $40,000 for t.
refer to the information given. assuming a current year net income of $45,000, what amount should be allocated to each partner?
partner s partner r partner t
a. $17,000 $21,000 $7,000
b. ($9,000) ($9,000) ($12,000)
c. $13,500 $13,500 $18,000
d. $22,500 $22,500 $0

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

Why has the free enterprise system been modified to include some government intervention?

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?