Allocate $249,000 net income by providing annual salary allowances of $66,000 to Ries, $56,000 to Bax, and $80,000 to Thomas; granting 10% interest on the partners' beginning capital investments; and sharing the remainder equally.

Answers

Answer 1

Answer:

Some information was missing: Ries invested $80,000 , Bax invested $112,000, and Thomas invested $128,000.

allocation of profits:

Ries = $66,000 + ($80,000 x 10%) = $74,000

Bax = $56,000 + ($112,000 x 10%) = $67,200

Thomas = $80,000 + ($128,000 x 10%) = $92,800

total = $234,000

remaining profits = $249,000 - $234,000 = $15,000 / 3 = $5,000

total allocation of profits:

Ries = $79,000Bax = $72,200Thomas = $97,800total = $249,000

Related Questions

Which type of communication is usually handwritten?
A.
a business letter
B.
a memorandum
C.
a note
D.
an email
E.
a résumé

Answers

Answer:

C. a note

Explanation:

Notes are informal handwritten messages.

A note is a type of communication is usually handwritten. Thus, the correct option is C.

What is communication?

Communication is the process of exchanging information, ideas, or messages between individuals or groups through various means, such as speech, writing, body language, or technology.

The sender is the person who initiates the communication and encodes the message, while the receiver is the person who receives and decodes the message. The medium is the channel through which the message is transmitted, such as speech, writing, or electronic devices.

Feedback is the response or reaction of the receiver to the message, which helps to ensure that the communication is understood and effective.

Learn more about communication, here

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Macroeconomics is the study of economics on a very small scale

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