The partnership agreement of A and B provides that interest at 10% per year is to be credited to each partner on the basis of weighted-average capital balances. The following movements in the capital accounts of A and B is as follows: A, Capital Balance, Jan. 1, 2022 Additional investment, June 1 Withdrawal, October 1 Balance, Dec. 31, 2022 B, Capital Balance, Jan. 1, 2022 Additional investment, April 1 Withdrawal, July 31 Balance, Dec. 31, 2022 Compute the interest allocated to B. 110,000 33,000 (20,000) 123,000 160,000 65,000 (30,000) 195,000

The partnership agreement of A and B provides that interest at 10% per year is to be credited to each partner on the basis of weighted-average capital balances. The following movements in the capital accounts of A and B is as follows: A, Capital Balance, Jan. 1, 2022 Additional investment, June 1 Withdrawal, October 1 Balance, Dec. 31, 2022 B, Capital Balance, Jan. 1, 2022 Additional investment, April 1 Withdrawal, July 31 Balance, Dec. 31, 2022 Compute the interest allocated to B. 110,000 33,000 (20,000) 123,000 160,000 65,000 (30,000) 195,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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