subject
Business, 10.01.2020 06:31 gabby0148

Lia chen and martin monroe formed a partnership, dividing income as follows: annual salary allowance to chen of $35,000.interest of 4% on each partner’s capital balance on january 1.any remaining net income divided to chen and monroe, 2: 1.chen and monroe had $90,000 and $140,000, respectively, in their january 1 capital balances. net income for the year was $70,000.required: how much net income should be distributed to chen and monroe?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 21:30
What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share
Answers: 1
question
Business, 22.06.2019 01:00
Cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely: cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely:
Answers: 3
question
Business, 22.06.2019 02:00
Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?
Answers: 2
question
Business, 22.06.2019 05:30
Identify the three components of a family's culture and provide one example from your own experience
Answers: 2
You know the right answer?
Lia chen and martin monroe formed a partnership, dividing income as follows: annual salary allowance...
Questions
question
Chemistry, 08.12.2020 16:00
question
Computers and Technology, 08.12.2020 16:00
question
Mathematics, 08.12.2020 16:00
question
English, 08.12.2020 16:00
question
Health, 08.12.2020 16:00
Questions on the website: 13722362