During the Current Year,Julia,Vanessa,and Connie,who Are Partners in the MacIntosh

question 81

Multiple Choice

During the current year,Julia,Vanessa,and Connie,who are partners in the MacIntosh Company,had average capital balances of $62,000,$56,000,and $74,000,respectively.The partners share profits and losses by allowing a $15,000 salary to Julia and a $19,000 salary to Vanessa,and a 12% return on average capital balances to all the partners.Any remaining income or loss is divided equally.If the company had a loss of $2,960,Julia's capital account would:

• A)decrease by $987
• B)increase by $2,440
• C)increase by $14,013
• D)decrease by $20,000

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