Multiple Choice
During the current year,Lisa,Tony,and Brian,who are partners in the Corsetti Company,had average capital balances of $41,000,$53,000,and $48,000,respectively.The partners share profits and losses by allowing a $16,000 salary to Lisa and a $14,000 salary to Brian,and a 12% return on average capital balances to all the partners.Any remaining income or loss is divided equally.If the company's income was $101,040,Brian's capital account would increase by:
A) $13,920
B) $33,680
C) $37,760
D) $53,440
Correct Answer:
Verified
Correct Answer:
Verified
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