Question 5 of 260.5/ 1Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb$14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the accountbalance then enter with a negative sign preceding the number e.g. -15,000 or parenthesls e.g. (15,000).)Division of Net IncomeNabbFryTotalSalary allowance24141002$102002$24300Interest allowance7300440011700Remaining excess/deficiencyTotal division of net income242$2$eTextbook and MediaSave for LaterAttempts: 1 of 10 usedSubmit Answer

The correct answer for the above mentioned question is given in the following steps.

Question 5 of 26 0.5/1 Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb $14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative slgn preceding the number eg. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 14100 2$ 10200 $4 24300 Interest allowance 7300 4400 11700 Remaining excess/deficiency Total division of net income %24 %24 24 eTextbook and Media

Question 5 of 26 0.5/1 Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb $14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative slgn preceding the number eg. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 14100 2$ 10200 $4 24300 Interest allowance 7300 4400 11700 Remaining excess/deficiency Total division of net income %24 %24 24 eTextbook and Media

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Plz help me urgently plz explain answer
P6
stion 5 USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMAL accounts payable 15 merchandise inventory 30 +-- 22 --- 51 accounts receivable medical supplies 9 long term notes payable nursing revenue : 50 -- - 6. + - - 4 4 accumulated depreciation -blg 4 prepaid rent expense amortization expense property taxes payable building 60 pension obligation : 27 8' transportation expense 9 bonds payable 115 unearned nursing income 24 cash 1. Zorro, capital 39 depreciation expense : 18 7. Zorro, withdrawals marketable securities A Moving to the next question prevents changes to this answer. MacBook Air 3.
Nabb & Fry Co. reports net income of $30,000. Interest allowances are Nabb $7,300 and Fry $5,500, salary allowances are Nabb $14,300 and Fry $10,800, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negatlve slgn preceding the number e.g. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 $4 2$ Interest allowance Remaining excess/deficiency Total division of net income 2$
plz help this is all the information for this question.
Question 7
Hh2.
QUESTION 1 Delta Insurance company has a loss adjustment expense of 678, underwriting expenses equalling 213 while their losses incurred is 125. Furthermore, their investments have created a profit of 231, If the company has collected a total of 804 in premiums this year, how much would t ratio be?
21:12 1 Classroom 10. An increase in an expense is always recorded as a debit. True False 11. An account balance is the difference between total debits and total credits in an account. True O False 12. The owner's personal withdrawals for the year cause a decrease in profit. True O False
2 Compute the Net Income. Service Income Prepaid Rent Interest Expense Barney's drawing Php 356,867.00 16,800.00 1,523.00 21,786.00 Таxes 4,544.00 3,651.00 Utilities Expense
2
Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated uncollectibles (a) Customer (b) No. Total (1) $ 23,400 36,100 56,000 35,000 Date Not Yet Due $ 41,518 $36,100 5,100 125,100 94,600 $275,600 $135,800 3% $ 4,074 1-30 $10,600 $12,800 5,500 15,500 Account Titles and Explanation Number of Days Past Due 7% $2,212 31-60 15,000 $31,600 $27,800 $45,400 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,500. 61-90 12% $45,400 24% $3,336 $ 10,896 Journalize the following events and transactions in the year 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Over 90 (1) March 1, a $1,100 customer balance originating in 2021 is judged uncollectible. (2) May 1, a check for $1,100 is received from the customer whose account was written off as uncollectible on March 1.…