Jackie is a 50% partner in The Lunch Box. She is to receive a guaranteed payment of $30,000. If the partnership's ordinary income before deducting the guaranteed payment is $70,000, what is Jackie's distributive share? $15,000 $20,000 $30,000 $35,000
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Jackie is a 50% partner in The Lunch Box. She is to receive a guaranteed payment of $30,000. If the
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- Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50% each. Chris contributes $30,000 to the partnership for a 1/3 share. What amount should the partnership record as a bonus to Chris? A. $20,000 B. $15,000 C. $10.500 D. $5,000The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have capital balances of $45,000 each. Prepare a schedule showing how the bonus should be divided if Ashanti joins the partnership with a $60,000 investment. The partners new agreement will share profit and loss in a 1:3 ratio.5. Jackie is a 50% partner in The Lunch Box. She is to receive a guaranteed payment of $30,000. If the partnership's ordinary income before deducting the guaranteed payment is $70,000, what is Jackie's distributive share? a. $15,000 b. $20,000 c. $30,000 d. $35,000
- Mary is a 25% partner. She is to receive 25% of the partnership income, but no less than $10,000. If the net income of the partnership is %50,000, what amount can the partnership deduct as a guaranteed payment to Mary? (a) $0, (b) $2,500, (c) $10,000, (d) $12,500Samuel and Darci are partners. The partnership capital for Samuel is $50,000 and for Darci is $60,000. Josh is admitted as a new partner by investing $50,000 cash. Josh is given a 20% interest in retum for his investment. The amount of the bonus to the old partners is a. $8,000 b. $18,000 c. $0 d. $10,000What is the answer? Harry invests $40,000 for a one-fourth interest in a partnership in which the other partners have capital totaling $80,000 before admitting Harry. After distribution of the bonus, what is Harry's capital balance? a. $10,000 b. $20,000 c. $30,000 d. $40,000
- X, Y and Z are in partnership. X receives a salary of $14,000. If the profits for the year are $80,000 and the partners share profits equally, what is Y's share of the profits? A $14,000 B $22,000 C $26,000 D $26,667The partners, C and D, share profits 3:2. However, C is to receive a yearly bonus of 20% of the profits, in addition to his profit share. The partnership made a net income for the year of P960,000 before the bonus.Assuming C’s bonus is computed on profit after deducting said bonus, how much profit share will D receive? Choices: P160,000 P307,200 P640,000 P320,000Tanisha is to receive 25% of the profits from partnership Plumeria Designs, before taking into account any guranteed payment, but not less than 8,000. If the partnership's income is 16000 before taking into account guaranteed payments, how much does Tanisha receive as a guranteed payment?Search instead for Tanisha is to receive 25% of the profits from partnership Plumeria Designs, before taking into account any guranteed payment, but not less than 8,000. If the pernership's income is 16000 before taking into account guaranteed paymens, how much does Tanisha receive as a guranteed payment?
- three partners, John, Jim, and Alice form a partnership. John invests $27,500; Jim invests $10,700, and Alice invests $8,400. In addition, Jim performs specific management functions for which he is paid $2,000 from the partnership proceeds. if the partnership earns $176,000, how much will jim receive?Katie, Berry and Betty agree to share profits and losses: Tom and Betty have $60 and $30 salary allowances Berry has a bonus of 50% of profits in excess of $500 Each have interest allowances of 10% of beginning capital Tom Capital, 1/1 $400 Betty Capital, 1/1 $350 Berry capital, 1/1 400 Remaining profits or losses are shared Tom 30%, Betty 40% and Berry 30%. Partnership profits are $800 for the year.Amy, Bob, and Cindy are partners with capital balances of $100,000, $60,000 and $80,000 and who share in the profit and loss of the ABC pip 40 17 and 20%, respectively, who they ag David for a 20% interest. If David contributes $70,000 to the partnership and the bonus method is used, what would Cindy capital balance of evid O $76,000 O $91,000 O $84,000 O $69,000