C. Eastwood, A. North, and M. West are manufacturers’
representatives in the architecture business. Their capital
accounts in the ENW partnership for 20X1 were as follows:
C. Eastwood, Capital
9/1
8,500
1/1
31,300
5/1
7,500
A. North, Capital
3/1
9,300
1/1
41,900
7/1
5,700
9/1
4,800
M. West, Capital
8/1
13,800
1/1
51,900
4/1
8,500
6/1
4,900
Required:
For each of the following independent income-sharing agreements,
prepare an income distribution schedule.
a. Salaries are $15,600 to Eastwood, $20,900 to North,...