Problem C.1 - E-Z Manufacturing Company Statement of Partners Equity For the Year Ended Gonzales Todd Balances Jan 1 2007 50,000 60,000 Add Net

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Net Income to be divided by 3 partners 180,000 divided by 3= 60,000 per partner
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B. There would be no effects on the individual withdraws because each person is taxed on there portion of the net income in this case 33.3% since there are three partners. And since they are withdrawls and not part of the net income they are not taxed.
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Unformatted text preview: E-Z Manufacturing Company Statement of Partners Equity For the Year Ended Dec 32, 2007 Gonzales Todd Balances, Jan 1 2007 50,000 60,000 Add: Net Income 60,000 60,000 Subtotals 110,000 120,000 Less:Drawings 25,000 23,000 Balances, Dec 31, 2007 85,000 97,000 Yeager 40,000 60,000 100,000 30,000 70,000...
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This note was uploaded on 12/18/2010 for the course BME 254788 taught by Professor Mitchell during the Spring '10 term at SUNY Albany.

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Problem C.1 - E-Z Manufacturing Company Statement of Partners Equity For the Year Ended Gonzales Todd Balances Jan 1 2007 50,000 60,000 Add Net

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