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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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 alt="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 $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account
balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesls e.g. (15,000).)
Division of Net Income
Nabb
Fry
Total
Salary allowance
24
14100
2$
10200
2$
24300
Interest allowance
7300
4400
11700
Remaining excess/deficiency
Total division of net income
24
2$
2$
eTextbook and Media
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Transcribed Image Text: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 $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account
balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesls e.g. (15,000).)
Division of Net Income
Nabb
Fry
Total
Salary allowance
24
14100
2$
10200
2$
24300
Interest allowance
7300
4400
11700
Remaining excess/deficiency
Total division of net income
24
2$
2$
eTextbook and Media
Save for Later
Attempts: 1 of 10 used
Submit Answer
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