subject
Business, 11.12.2019 22:31 bloodmoonangel01

Purkerson, smith, and traynor have operated a bookstore for a number of years as a partnership. at the beginning of 2018, capital balances were as follows: purkerson $ 60,000 smith 40,000 traynor 20,000 due to a cash shortage, purkerson invests an additional $14,000 in the business on april 1, 2018. each partner is allowed to withdraw $1,000 cash each month. the partners have used the same method of allocating profits and losses since the business's inception: each partner is given the following compensation allowance for work done in the business: purkerson, $15,000; smith, $25,000; and traynor, $8,000. each partner is credited with interest equal to 10 percent of the average monthly capital balance for the year without regard for normal drawings. any remaining profit or loss is allocated 2: 3: 5 to purkerson, smith, and traynor, respectively. the net income for 2018 is $36,000. each partner withdraws the allotted amount each month. what are the ending capital balances for 2018?

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:00
Using a cps-sample of 7,440 individuals, you estimate the following regression: = 20.91 - 2.61 x female where female is a binary variable that takes on the value of 1 for females and is 0 otherwise. the standard error on the coefficient on female is 0.25. the 95% confidence interval for the gender wage gap, or the amount that females earn less, is: a) [-3.10, -2.12] b) [18.30, 23.52] c) [-3.02, -2.20] d) [-1.96, -1.64]
Answers: 3
question
Business, 22.06.2019 11:40
You are a manager at asda. you have been given the demand data for the past 10 weeks for swim rings for children. you decide to run multiple types of forecasting methods on the data to see which gives you the best forecast. if you were to use exponential smoothing with alpha =.8, what would be your forecast for week 22? (the forecast for week 21 was 1277.) week demand 12 1317 13 1307 14 1261 15 1258 16 1267 17 1256 18 1268 19 1277 20 1277 21 1297
Answers: 3
question
Business, 22.06.2019 13:50
The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?
Answers: 2
question
Business, 22.06.2019 20:00
Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:
Answers: 2
You know the right answer?
Purkerson, smith, and traynor have operated a bookstore for a number of years as a partnership. at t...
Questions
question
Biology, 11.12.2019 05:31
question
Mathematics, 11.12.2019 05:31
question
Mathematics, 11.12.2019 05:31
question
Chemistry, 11.12.2019 05:31
Questions on the website: 13722361