During the Current Year,Lisa,Tony,and Brian,who Are Partners in the Corsetti

question 73

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

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