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9 Problem 12-4A The tolowing informeon apples to the quessons dsovayed below 416 making capital contiburions of s80100, 5311,500, and plans of το uu and Sg7000 to Barb, merest allowances onos on the r iitis capita investments; and the balance shared as folows: 20% to M), 40% to L a and 40s to Barb 1. Use the table to show how t considered. (Do not round o distroute net income or $523,500 for the calendar year under each of the aternanve pians being Prey 6 78of 12 Next > O Type here to search
on the and sharing the remainder equaly Dec 31 Type here to search
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Workin Sr No. Particulars Mo Meek Lu Ling Barb Beclk A Capital Investment 311,500 $498,400 56% $80100/($80100+ [S311500/(S80100+ [$498400/(S80100+ 311500+498400) $311500+498400) $311500+498400)] $97,000 $80,100 9% Percentage of Capital Investment 35% B Yearly Salary Allowance $85,600 64,200 Cl Interest @ 10% on initial Capital $8,010 31,150 $49,840 $80100 x 106] [$311500 x 109%] [$498400 x 10%] Income /(Loss) Sharing Plarn Lu Lin Plan (a Net Income (Loss) Balance Allocated Equally Balance of Income (Loss) Shares to Partners Plan (b) Net Income (Loss) Balance Allocated in proportion to initial investment Balance of Income (Loss) Shares to Partners Plan (c) Net Income (Loss) Salary Allowance Balance of Income (Loss) Interest Allowance Balance of Income (Loss) Balance Allocated Balance of Income (Loss) Shares to Partners Mo Meelk Barb Beck Total $523,500 $523500/3] 74,500.00IS523500/3] 74,500.00IS523500/3] 174,500.00 $0 174,500.00 174,500.00 174,500.00 $523,500 | [$523500 x 9%) 47,115.00| [$523500 x 35%) 183,225.00| [$523500 x 5696] 293,160.00 $0 47,115.00 183,225.00 293,160.00 $523,500 $276,700 $187,700 $0 85,600.00 64,200.00 97,000.00 $80100 x 1096] 8,010.00 I$311500 x 10%] 31,150.00| [$498400 x 1096] 49,840.00 [$187700 x 20%) 37,540.00 | [$187700 x 4096] 75,080.00 [$187700 x 40%] 75,080.00 131,150.00 170,430.00 221,920.00

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