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

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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

Corporate Financial Accounting

15th Edition

ISBN:9781337398169

Author:Carl Warren, Jeff Jones

Publisher:Carl Warren, Jeff Jones

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.7BE: To determine: Times interest earned ratio Given info: Income before income tax and interest expense....

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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$
Nabb & Fry Co. reports net income of $30,000. Interest allowances are Nabb $6,000 and Fry $5,100, salary allowances are Nabb $15,100 and Fry $11,000, 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 parenthesis e.g. (15,000).) Salary allowance Interest allowance Remaining excess/deficiency Total division of net income $ $ Nabb Division of Net Income $ $ Fry $ $ Total
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Nabb & Fry Co. reports net income of $29,000. Interest allowances are Nabb $6,400 and Fry $5,100, salary allowances are Nabb $15,500 and Fry $10,500, 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 eg.-15,000 or parenthesis eg. (15,000).) Salary allowance Interest allowance Remaining excess/deficiency Total division of net income $ $ Nabb Division of Net Income S S Fry $ $ Total
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Nabb & Fry Co. reports net income of $29,000. Interest allowances are Nabb $6,000 and Fry $5,600, salary allowances are Nabb $14,100 and Fry $10,900, 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 parenthesis e.g. (15,000).) Nabb Fry Total Salary Allowance Interest Allowance Remaining Excess/deficiancy total division of net income
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Nabb & Fry Co. reports net income of $25,000. Interest allowances are Nabb $5,000 and Fry$4,000, salary allowances are Nabb $14,000 and Fry $10,000, and the remainder is sharedequally. Show the distribution of income. (If an amount reducesthe account balance then enter with anegative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)Division of NetIncomeNabb FrySalary allowance $ $ $InterestallowanceRemainingexcess/deficiencyTotal division ofnet income$
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Bleeker Street Bounty Work Sheet (partial) For the year ended December 31, 20-- Account Title Income Statement Balance Sheet 'Debit Credit Debit Credit Cash 12,300 Accounts Receivable 25,000 Merchandise Inventory 16,000 Store Supplies 1,100 Office Supplies 600 Prepaid Insurance 1,500 Store Equipment 66,000 Accumulated Depreciation-Store Equipment 38,000 Office Equipment 18,000 Accumulated Depreciation-Office Equipment 10,000 Accounts Payable 22,300 Salaries Payable 400 Long-Term Notes Payable 36,000 Carlo Perez, Capital 50,600 Carlo Perez, Drawing 32,000 Income Summary 17,000 16,000 Sales 61,500 Sales Returns and Allowances 500 Purchases 23,000 700 Purchases Returns and Allowances