Show Attempt History Current Attempt in Progress Your answer is partially correct. 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 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).) Division of Net Income Salary allowance Interest allowance Remaining excess/deficiency Total division of net income $ eTextbook and Media Save for Later Nabb 14000 $ 5000 Fry 10000 $ 4000 $ Total 24000 9000 Attempts: 3 of 4 used Submit Answer

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Your answer is partially correct.
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 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).)
Division of Net Income
Salary allowance
Interest allowance
Remaining excess/deficiency
Total division of net income
$
eTextbook and Media
Save for Later
Nabb
14000
$
5000
Fry
10000
$
4000
$
Total
24000
9000
Attempts: 3 of 4 used
Submit Answer
Transcribed Image Text:Show Attempt History Current Attempt in Progress Your answer is partially correct. 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 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).) Division of Net Income Salary allowance Interest allowance Remaining excess/deficiency Total division of net income $ eTextbook and Media Save for Later Nabb 14000 $ 5000 Fry 10000 $ 4000 $ Total 24000 9000 Attempts: 3 of 4 used Submit Answer
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