How much net income should be distributed to orr, Accounting Basics

+44 141 628 6080
[email protected]

How much net income should be distributed to orr

Andrew Orr and Victoria Graham formed a partnership, dividing income as follows: Annual salary allowance to Orr of $28,000. Interest of 6% on each partner's capital balance on January 1. Any remaining net income divided to Orr and Graham, 2:1. Orr and Graham had $60,000 and $150,000, respectively, in their January 1 capital balances. Net income for the year was $46,000. How much net income should be distributed to Orr?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much net income should be distributed to orr

Reference No:- TGS0689163

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Calculate the debt ratio and equity ratio

Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio (round the percent to one decimal).

Q : Determine how should the cash be distributed

David Oliver and Umar Ansari, with capital balances of $28,000 and $35,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $67,000 of cash remaining.

Q : Problem bsed on testing the claim

Question: A political strategist believes that at least 58% of voters in a certain state support his candidate. He then commissions a poll of 1000 voters and 60% of them support his candidate. At ? = .05, test the claim.

Q : What is the free cash flow to the firm

The EBIT of a firm is $300, the tax rate is 35%, the depreciation is $20, capital expenditures are $60 and the increase in net working capital is $30. What is the free cash flow to the firm?

Q : How much net income should be distributed to orr

Andrew Orr and Victoria Graham formed a partnership, dividing income as follows: Annual salary allowance to Orr of $28,000. Interest of 6% on each partner's capital balance on January 1.

Q : Compute the interest expense to be reported in the income

Grove Corporation issued $4,000,000 of 8% bonds on October 1, 2014, due on October 1, 2019. The interest is to be paid twice a year on April 1 and October 1.

Q : What would be the index value

Three stocks have share prices of $12, $75, and $30 with total market values of $400 million, $350 million and $150 million respectively. If you were to construct a price-weighted index of the three stocks, what would be the index value?

Q : The capital deficiency declares bankruptcy

After the accounts are closed on February 3, 2014, prior to liquidating the partnership, the capital accounts of William Gerloff, Joshua Chu, and Courtney Jewett are $19,300, $4,500, and $22,300, respectively.

Q : Problem based on counting overlaps

A child types the letters Q, W, E, R, T, Y randomly producing 1000 letters in all. What is the expected number of times that the sequence QQQQ appears, counting overlaps?

1929030

Questions
Asked

3,689

Active Tutors

1432890

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much net income should be distributed to orr

Reference No:- TGS0689163

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Calculate the debt ratio and equity ratio

Q : Determine how should the cash be distributed

Q : Problem bsed on testing the claim

Q : What is the free cash flow to the firm

Q : How much net income should be distributed to orr

Q : Compute the interest expense to be reported in the income

Q : What would be the index value

Q : The capital deficiency declares bankruptcy

Q : Problem based on counting overlaps

How we perceive objects in the real world

Identify a true statement about validity

Is lifespan psychologists are unlikely to investigate

Provide reasons why working from a person centred

Problem on journal articles and non-journal materials

Discuss three ethical guidelines that are important

Examine historical literature to the most current period

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much net income should be distributed to orr

Reference No:- TGS0689163

Recent Questions Asked Accounting Basics

Q : Calculate the debt ratio and equity ratio

Q : Determine how should the cash be distributed

Q : Problem bsed on testing the claim

Q : What is the free cash flow to the firm

Q : How much net income should be distributed to orr

Q : Compute the interest expense to be reported in the income

Q : What would be the index value

Q : The capital deficiency declares bankruptcy

Q : Problem based on counting overlaps

Asked Questions