BUS 208 - Principles of Accounting II Chapter 12 Karen Smith and Abby Jones formed a partnership, investing $250,000 and $125,000, respectively. Determine their participation in the year's net income of $420,000 under each of the following independent assumptions. Please show your calculations. A AFGHASAN NU I d. Salary allowances of $50,000 and $60,000, respectively, and the remainder divided equally. e. Allowance of interest at the rate of 5% on original investments, salary allowances of $40,000 and $80,000 respectively and the remainder divided equally.

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Ratio Analyses for Victor and Maria Review the financial statements of Victor and Maria Hernandez and the financial ratios provided below. Balance Sheet for a Couple with Two Children-Victor and Maria Hernandez, January 1, 2018     Dollars   Percent ASSETS         Monetary Assets         Cash on hand   1,200   0.3 Savings account   4,200   1.1 Victor's checking account   2,700   0.7 Maria's checking account   3,300   0.8 Tax refund due   700   0.2 Rent receivable   650   0.2 Total Monetary Assets   $     12,750   3.3% Tangible Assets         Home   192,000   49.0 Personal property   9,000   2.3 Automobiles   9,500   2.4 Total Tangible Assets   $ 210,500   53.7% Investment Assets         Fidelity mutual funds   4,000   1.0 Scudder mutual fund   4,500   1.1 Ford Motor Company stock   2,500   0.6 New York 2038 bonds   4,100   1.0 Life insurance cash value   5,400   1.4 IRA accounts   34,400   8.8 Real estate investment   114,000   29.1…

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Subject: accounting

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