Question 5 of 260.5/ 1Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb$14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the accountbalance then enter with a negative sign preceding the number e.g. -15,000 or parenthesls e.g. (15,000).)Division of Net IncomeNabbFryTotalSalary allowance24141002$102002$24300Interest allowance7300440011700Remaining excess/deficiencyTotal division of net income242$2$eTextbook and MediaSave for LaterAttempts: 1 of 10 usedSubmit Answer

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Question 5 of 26 0.5/1 Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb $14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative slgn preceding the number eg. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 14100 2$ 10200 $4 24300 Interest allowance 7300 4400 11700 Remaining excess/deficiency Total division of net income %24 %24 24 eTextbook and Media

Question 5 of 26 0.5/1 Nabb & Fry Co. reports net income of $28,000. Interest allowances are Nabb $7,300 and Fry $4,400, salary allowances are Nabb $14,100 and Fry $10,200, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative slgn preceding the number eg. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 14100 2$ 10200 $4 24300 Interest allowance 7300 4400 11700 Remaining excess/deficiency Total division of net income %24 %24 24 eTextbook and Media

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.9BE

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