Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. emerson and dakota formed a partnership dividing i

Emerson and Dakota formed a partnership dividing income as follows: 1. Annual salary allowance to...

80.2K

Verified Solution

Question

Accounting

image
Emerson and Dakota formed a partnership dividing income as follows: 1. Annual salary allowance to Emerson of $38,800 2. Interest of 10% on each partner's capital balance on January 1 3. Any remaining net income divided equally. Emerson and Dakota had $38,000 and $144,400, respectively, in their January 1 capital balances. Net income for the year was $223,600. How much net income should be distributed to Dakota

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

A parallel plate capacitor with plate separation d is connected to a battery. The capacitor is...

Mechanical Engineering
1.2K views

In a thermally isolated mixing chamber cold water at 50oC and 1MPa is heated steadily by...

Biology
1.2K views

of us afloat in the meadow by the swing ree of us aboard in the...

Physics
1.2K views

3 10 cm divergent cm convergent 4 The wavelength of light used in two young...

Physics
1.2K views

How long must a flute be in order to have a fundamental frequency of 262...

Geometry
1.2K views

f 1 cose sine sine 1 cose 2csc0

Calculus
1.2K views

Find the radius of convergence of the power series Your answer should be a nonnegative...

Accounting
1.2K views

Which of the following is not an expense account associated with the food and beverage...

Accounting
1.2K views

URGENT!!! \$13,005 575+60 $72.990 579290 Clearimy respecion \$13,005 575+60 $72.990...

Accounting
1.2K views

Exercise 22-20 (Algo) Cash conversion cycle LO A4 A manufacturer reports the data below. (1)...

Accounting
1.2K views

A company manufactures Cricket Bats. In May 2010 the budgeted sales and production were 19,000...

Accounting
1.2K views

E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation (LO 9-2. LO 9-3)...