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ESTUDIO DE CASO: TEMA- SOCIEDADES Charles Lake, Liz Wood, and...

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Accounting

ESTUDIO DE CASO: TEMA- SOCIEDADES
Charles Lake, Liz Wood, and Hal Park have formed a partnership. Lake invested $15,000, Wood $18,000, and Parks $27,000. Lake will manage the store; Wood will work in the store half-time; and Parks will not work in the business.
Required:
1. Compute the partner share of profit and losses under each of the following plan: 20 puntos
a. Net income for the year ended January 31,2010 is $210,000.
b. The first $75,000 is allocated on the basis of partner capital contributions.
c. The next $36,000 is based on service, with Lake receiving $28,000 and Wood receiving $8,000.
d. Any remainder is share equally.

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