7/21/2019 Exercise 2 7

1/2

Elsie Nim

1 10-month salary to partners 65000 50000

50% bonus to managing partner

Balance: (62500) 2:2:1 25000 25000

Share in Net Income !0000 "5000

2 #argaret $apital an 1 &50000

'itional n*estments 150000

+ermanent ,ithraal (50000)

#argaret $apital .ec &1 /50000

nterest rate 20%

Margaret, Interest !0000

$hristian #ichael

& 15% !-month interest on beginning capital "500 /500

!-month salary alloance /5000 &1500

Balance: (-2!500) 5:&:2 (1/"50) (50)

Share in Net Income &""50 2"150

loy reg

/ 'nnual salary alloance 2/000 15000

nterest on a*erage capital balances 1000 12000

Balance: &:2 /500 &000

Share in Net Income /2000 &0000

7/21/2019 Exercise 2 7

2/2

#a*ic 3otal

/0000 155000

62500 62500

12500 62500

115000 20000

'ngelo 3otal

&000 15000

1000 !/500

(5!00) (2!500)

15100 0000

3otal

&!000

&0000

"500

"6500