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Unit 6 QUIZ multiple choice

Q9

Q13

Q14

Q15

Q17

Q18

Q20

Just give the answer it's fine no need explanation or calculation. TIA

Question 9 of 20 - 11 View Policies Current Attempt in Progress Partners Michael and Dickens have capital balances in a partnership of $ 159000 and $ 241000, respectively. They agree to share profits and losses as follows: Michael Dickens $ As salaries 40500 47000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% if income for the year was $ 111000, what will be the allocation of income to Michael? O $48150 O $63750 0 $ 40000 O $56400 for Later Attempts: 0 of used salt Question 13 of 20 -/15 View Policies Current Attempt in Progress Partners Richard and Dickens have capital balances in a partnership of S 169000 and $ 245000, respectively. They agree to share profits and losses as follows: Richard Dickens As salaries S 39100 S 47500 1036 1096 As Interest on capital at the beginning of the year Remaining profits or losses 50% 50% If income for the year was $ 193000, what will be the allocation of income to Dickens? $ 82800 O $ 104500 O $88500 O $41400 Save for Later Attempts: 0 of 1 used Submit Answer ./1 > Question 14 of 20 III View Policies Current Attempt in Progress Joseph is investing in a partnership with Deidre Joseph contributes as part of his initial investment, Accounts Recelvable of $ 59400; an Allowance for Doubtful Accounts of S 9400 and $ 5300 cash. The entry that the partnership makes to record Joseph's initial contribution includes a O credit to Joseph, Capital for $ 55300 credit to Joseph, Capital for $ 64700 O debit to Accounts Receivable for $50000. O debit to Allowance for Doubtful Accounts for $ 9400. Save for Later Attempts: 0 of 1used Submit Antwer Question 15 of 20 > - / 1 View Policies Current Attempt in Progress On November 30, capital balances are Gary $ 290000. Ellis S 250000 and Gise S 250000. The income ratios are 20%, 20% and 60% respectively. Gary decides to retire from the partnership. The partnership pays Gary $ 351000 cash for her partnership interest. After Gary's retirement, what is the balance of Ellis's capital account? $ 237800 O $234750 O S 250000 O S 320500 3ave for Later Attempts: 0 of 1 used Submit Answer Question 17 of 20 -/1 E View Policies Current Attempt in Progress On November 30. capital balances are Kevin $ 731000, Lagassi $ 593000 and Kelly S 593000. The income ratios are 20% 20and 60% respectively. Kevin decides to retire from the partnership. In order for Lagassi and Kelly to have equal capital interests after the retirement of Kevin, how much partnership cash would have to be paid to Kevin for her partnership interest? O S731000 O S639000 OSO O Any amount paid to Kevin will cause Lagassi and Kelly to still have equal capital balances Save for later Attempts:0 of 1 used Submit Answer Question 20 of 20

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