The following information was obtained from therecords of MT Suppliers, a partnership businesswith Mary and Tanya as partners, on 28 February2023 (the end of the financial year): Mary's capitalbalance was R600 000 on 28 February 2023. Sheincreased her capital contribution by R200 000 on01 December 2022 (and this was recorded). Sheearns interest at a rate of 15% per annum. Whichone of the following reflects Mary's interest oncapital for the year ended 28 February 2023?O A. R60 000B. R82 500O C. R90 000OD. R67 500

Mary's interest on capital for the year ended 28 February 2023, can be computed using the formula…

Answered: The following information was obtained…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The XYZ Associates has three partners, A, B and C. In the first half of year 1, to 30 June, 2019.Year 1, Partner A and Partner C each received an annual salary of Rs. 35,000. Residual profits orlosses are shared between A, B and C in the ratio 4:3:2. (There is no interest on capital.) In thesecond half of the year, from 1 July to 31 December, 2019, Partner A’s salary was increased to Rs.45,000, and the partners altered the profit-sharing ratio to 1:3:1 for A:B:C).The salary of Partner F was unchanged at Rs. 35,000 per year. The profit for the year was Rs.230,000 (arising evenly throughout the year).Required: You are asked to prepare profit and loss appropriation account for the XYZ Associatesand Show the necessary calculations and also explain them.
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E5.
Regina Harrison is a partner in Pressed for Time. An analysis of Regina Harrison's capital account indicates that during the most recent year, she withdrew $20,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year? a. $124,000 O b. $176,000 ○ c. $192,000 Od. $144,000

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