Ch14_P02B

# Ch14_P02B - Plan A in the ratio of initial investment...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 14-2B Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Schedules M1 M4:P93 Given Data T1

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REPORT REFERENCE Given Data T1 0 0 SPATS Problem 14-2B Monroe and Young Preliminary Calculations Inc./Loss Year 1 Sharing Plan Calculations Monroe Young

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Inc./Loss Year 2 Sharing Plan Calculations Meade Munez Inc./Loss Year 3 Sharing Plan Calculations Meade Munez
Given Data: Monroe and Young's Alternative Plans to Share Net Incomes and Losses

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Unformatted text preview: Plan A - in the ratio of initial investment Monroe- initial investment \$49,800 Munez - initial investment \$74,700 Plan B - in proportion to time devoted to business: Monroe - one-third time Young - full time Plan C - salary to Young and balance in ratio of initial investment Proposed salary to Young \$5250 per month Plan D - salary to Young, interest on their initial investments, balance equally Proposed salary to Young \$5250 per month Proposed interest rate 10% Expected income: Year 1 \$30,500 Year 2 \$(82,500) Year 3 \$215,000...
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Ch14_P02B - Plan A in the ratio of initial investment...

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