DURAND PRICE RUSELL

35% 25% 40%

GAIN ON SALE OF EQUIPMENT 5,000 5,000 5,000
SALARIES 40,000 20,000 45,000
BONUS TO ALL PARTNERS 2,692 2,692 2,692
BONUS TO PRICE 0 5,000 0
INTEREST ON CAPITAL 7,958 11,417 6,750
TOTAL 55,650 44,109 59,442
ALLOCATION OF REMAINING PROFIT 14,280 10,200 16,319
TOTAL PROFIT(LOSS) ALLOCATION 69,930 54,309 75,761

1. ALLOCATION OF INCOME FOR 20X4

NORR CAYLOR TOTAL
INTEREST 12,000 9,600 21,600
COMPENSATION 10,000 14,000 24,000
TOTAL 22,000 23,600 45,600
ALLOCATION OF REMAINING PROFIT 14,640 9,760 24,400
TOTAL PROFIT(LOSS) ALLOCATION 36,640 33,360 70,000

2. CAPITAL ACCOUNT BALANCE AT THE END OF 20X4.

NORR CAYLOR
BEG. BALANCE 100,000 80,000
SHARE OF PROFIT 36,640 33,360
WITHDRAWALS (12,000) (12,000)
END. CAPITAL 124,640 101,360

3. ALLOCATION OF INCOME FOR 20X5.

NORR CAYLOR TOTAL
INTEREST 14,957 12,163 27,120
COMPENSATION 8,000 12,000 20,000
TOTAL 22,957 24,163 47,120
ALLOCATION OF REMAINING PROFIT (13,872) (9,248) (23,120)

TOTAL PROFIT(LOSS) ALLOCATION 9,085 14,915 24,000

4. CAPITAL ACCOUNT BALANCE AT THE END OF 20X5.

NORR CAYLOR
BEG. BALANCE 124,640 101,360
SHARE OF PROFIT 9,085 14,915
WITHDRAWALS (12,000) (12,000)
END. CAPITAL 121,725 104,275
Page, Drawings 5,000
Repair Expense 5,000

Page, Capital 13,000

Childers, Capital 11,000
Page, Drawings 13,000
Childers, Drawings 11,000

Revenue 90,000
Expenses 59,000
Income Summary 31,000

Income Summary 31,000

Page, Capital 11,000
Childers, Capital 20,000
 TOTAL

15,000
105,000
8,076
5,000
26,125
PROFIT= 200,000
159,201
40,799
200,000

PROFIT= 70,000

PROFIT= 24,000