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View Full Version : Accounting : partnership and corporation


jedik
Dec 1, 2012, 07:58 PM
Investments
A - 100
B - 200
C - 100
Drawings
A - 25000
B - 40000
C - 30000

Sales - 550000
Cost of Sales - 250000
Gross Profit - 300000
OPex - 100000
Net Income - 200000
Other Comprehensive Income: Revaluation of land - 150000
Total Compre. Income : 350000

Allocation Table:
Salaries to partner
A - 60000
B - 40000
C - 40000
TOTAL - 140000
Residual Profit 1:2:1
A - 15000
B - 30000
C - 15000
TOTAL - 60000

Total of A - 75000
Total of B - 70000
Total of C - 55000

All in All - 200000

How is the salary distributed? What is the computation?