Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > HR Management Posted 01 Nov 2017 My Price 5.00

mine and Ankit

Distribution of Income: Average Capital Balance

e6A. Amine and Ankit operate a furniture rental business. Their capital balances on January 1, 2014, were $320,000 and $480,000, respectively. Amine withdrew cash   of

$64,000 from the business on April 1, 2014. Ankit withdrew $120,000 cash on Octo- ber 1, 2014. Amine and Ankit distribute partnership income based on their average capital balances each year. Income for 2014 was $320,000. Compute the income to be distributed to Amine and Ankit using their average capital balances in 2014. (Round percentages to the nearest tenth of a percent.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Nov 2017 03:11 PM My Price 5.00

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