A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P10,000 for A and P40,000 for B. • Bonus to A of 10% of the profit after partner's salaries but before bonus. The partners share profits and losses on a 60:40 ratio. During the period the partnership incurred a loss of P20,000 before deduction for salaries. By what amount did B's capital account change?

The net income of the Mohammad and Ahmed partnership is 250,000. The partnership agreement specifies that profits and losses will be shared equally after salary allowances of 200,000 (Mohammad) and 300,000 (Ahmed) have been allocated. At the beginning of the year, Mohammad's Capital account had a balance of 500,000 and Ahmed's Capital account had a balance of 650,000. What is the balance of Mohammad's Capital account at the ?end of the year after profits and losses have been distributed 825,000.a O 375,000.b O 625,000 .cO 575,000.d O

During the year, the ABC partnership's operations generated a loss. The partnership agreement provides for the following P/L sharing provisions: Interest of P2,000, P3,000, and P5,000 to partners A, B, and C, respectively Salary of P15,000 to partner A Any remainder is allocated equally. freshma freshman freshma If the share of partner A in the loss is P8,000, how much is the net loss for the period?

The net income of the Chris and Browning partnership is $440000. The partnership agreement specifies that Chris and Brow a salary allowance of $125000 and $171000, respectively. The partnership agreement also specifies an interest allowrance of capital balances at the beginning of the year. Each partner had a beginning capital balance of $ 294000. Any remaining net inc net loss is shared equally. What is Chris's share of the $ 440000 net income? $197000 $154400 $167600 $114600 Attempts: 0 of 1 used

(J)  The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits or losses be shared between the partners in the ratio of their financial contributions to the partnership. Wilson contributed $65,000, Pickett contributed $39,000 and Nelson contributed $13,000. In the partnership's first year of operation, it incurred a loss of $184,500. What amount of the partnership's loss is allocated to Nelson?  Multiple Choice : $46,125  $92,250  $61,500  $20,500  $0

A and B are equal partners. Assume that the partnership net income in the current year is 340800. The partnership agreement states as follows: Partners are entitle to Salary of: A - $45,000; B - $38,000 Interest on Capital: A - $7,000; B - $6,000 Interest charged on drawings: A - $2,500; B - $1,800 The Partners share profits and losses as follows: A: 60%; B: 40% Complete the multiple spaces below to calculate the Taxable Income of each partner. Just state the figure without any commas, full stops or dollar signs. If the figure is a negative, show it in brackets, eg (3000)

Xavier and Yolonda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $40,000 is allocated to Xavier? 21. a. $20,000 b. $22,000 c. $32,000 d. $0 Moderate OBJ: LO: 12-02 DIF: PTS: 1 ANS: B KEY: Bloom's: Application NAT: BUSPROG: Analytic

Shirley contributes property to a new partnership with a value of $1,000,000 and a basis of $400,000 that is secured by a $500,000 nonrecourse note. Under the terms of the partnership agreement, Shirley will be allocated 25% of all profits. The partnership agreement also states that "excess nonrecourse liabilities" will be allocated to partners according to profit ratios. How much of the nonrecourse liability will be allocated to Shirley? please dont provide answer in images thank you

The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda 160,000 Adams 140,000 Fergie 130,000 Gomez 120,000 Answer each   A. Assume that the partners and losses 3:3:2:2,respectively. Fergie retires and is paid 151,000 based on the terms of the orginal partnership agreement. If the Goodwill method is used;what is the capital of the remaining three partners? B. Assume that the partners share profit and losses 4:3:2:1, respectively. Peneda retires and is paid 305,000 based on the terms of the orginal partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round intermediate calculations. Round to the nearest amounts.   A. Pineda   capital Balance__________ Adams       capital Balance__________ Gomez      capital Balance__________     B. Pineda        capital Balance__________ Adams       capital Balance__________ Gomez      capital Balance__________