Kindrob Company reports profit of $144,000 for the year ended May 31, 2024. The partnership
agreement specifies (1) salary allowances of $60,000 for K. Kindle and $48,000 for M. Roberts,
(2) an interest allowance of 4% based on average capital account balances, and (3) sharing any
remainder on a 60:40 basis (60% to Kindle, 40% to Roberts). Average capital account balances
for the year were $80,000 for Kindle and $60,000 for Roberts. How much is the profit allocated
to Kindle?
a
$63,200
b
$81,440
c
$78,240
d
$75,040.
ISYU TUNGKOL SA SEKSWLADIDA (ISSUE ABOUT SEXUALITY
Kindrob Company reports profit of $144,000 for the year ended May 31.pdf
1. Kindrob Company reports profit of $144,000 for the year ended May 31, 2024. The partnership
agreement specifies (1) salary allowances of $60,000 for K. Kindle and $48,000 for M. Roberts,
(2) an interest allowance of 4% based on average capital account balances, and (3) sharing any
remainder on a 60:40 basis (60% to Kindle, 40% to Roberts). Average capital account balances
for the year were $80,000 for Kindle and $60,000 for Roberts. How much is the profit allocated
to Kindle?
a
$63,200
b
$81,440
c
$78,240
d
$75,040
