the sandhill partnership reported profit of $58800 for the year ended february 29,2024.Salary allowances are...
70.2K
Verified Solution
Link Copied!
Question
Accounting
the sandhill partnership reported profit of $58800 for the year ended february 29,2024.Salary allowances are $44,100 for H.Anderson and $24500 for S.Harrin.Interest allowances of 5% are calculated on each partners opening capital account balance.Capital account balances at March 1,2023, were as follows: H.anderson $71,000 (Cr.) ans S.Harrin $46000 (cr.) Any remainder is shared equally.Calculate the division of profit to each partner
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.