Homework Answers
Solution:
|
1 |
J. Pinkston, Capital |
10,300 |
|
|
J. Terrell, Capital |
10,300 |
||
|
2 |
C. Lamar, Capital |
5,266.14 |
|
|
J. Terrell, Capital |
5,266.14 |
||
|
3 |
Cash |
60,800 |
|
|
G. Donley, Capital |
3,430 |
||
|
C. Lamar, Capital |
2,744 |
||
|
J. Pinkston, Capital |
686 |
||
|
J. Terrell, Capital |
53,940 |
||
|
4 |
Cash |
41,000 |
|
|
G. Donley, Capital |
3,500 |
||
|
C. Lamar, Capital |
2,800 |
||
|
J. Pinkston, Capital |
700 |
||
|
J. Terrell, Capital |
48,000 |
Working:
1) 20,600 * 50% = 10,300
2) 33.33% * 15,800 = 5,266.14
3) Total captal = 53,400 +45000+ 20,600 +60,800 = 179800
Share of Terrell: 179800 * 0.30 = 53940 but paid amount equals 60800. The differential of $6,860 (= 60,800 - 53940) is bonus
|
G. Donley (6860 *5/10) |
3430 |
|
C. Lamar (6860 * 4/10) |
2744 |
|
J. Pinkston (6860 * 1/10) |
686 |
4) Total captal = 53,400 +45000+ 20,600 +41,000 = 160,000
Share of Terrell: 160000 * 0.30 = 48,000 but paid amount equals 41,000. The differential of $7,000 (= 41,000 - 48,000) is loss
|
G. Donley (7000 *5/10) |
3500 |
|
C. Lamar (7000 * 4/10) |
2800 |
|
J. Pinkston (7000 * 1/10) |
700 |
I
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