Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences See all
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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 4.00

Angel Investor Associates

The partnership of Angel Investor Associates began operations on January 1, 2008, with contributions from two partners as follows:
Jan Strous $36,000 Lisa Lankford 84,000
The following additional partner transactions took place during the year:
1. In early January, Sarah Rogers is admitted to the partnership by contributing $30,000 cash for a 20% interest.
2. Net income of $140,000 was earned in 2008. In addition, Jan Strous received a salary allowance of $25,000 for the year. The three partners agree to an income-sharing ratio equal to their capital balances after admitting Rogers.
3. The partners' withdrawals are equal to half of the increase in their capital balances resulting from income remaining after salary allowances.
Prepare a statement of partnership equity for the year ended December 31, 2008.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 07:08 PM My Price 4.00

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