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MKT 420 Case Study 1
MKT 420 Case Study 1
12-2A, A2
Division of Net Income Net Income
Art Niensted Greg Bolen Krista Sayler $40,000
Salary Allowance $15,000 $10,000 $0 $25,000
$15,000
15,000*1/3 $5,000 $5,000 $5,000 $15,000
$20,000 $15,000 $5,000 0
NBS Company
General Journal
Date Description Ref. Dr Cr
Dec. 31, 2017 Income Summary $40,000
Art Niensted, Capital $20,000
Greg Bolen, Capital 15,000
Krista Sayler, Capital 5,000
12-2A, A3
Art Niensted Greg Bolen Krista Sayler Net Income
10% of capital $4,800 $3,000 $2,500 $19,000
Salary Allowance $15,00 $15,000
$4,000
4,000*1/3 $1,333 $1,333 $1,333 $4,000
$21,133 $4,333 $3,833 0
NBS Company
General Journal
Date Description Ref. Dr Cr
Dec. 31, 2017 Income Summary $19,000
Art Niensted, Capital $21,333
Greg Bolen, Capital 4,333
Krista Sayler, Capital 3,833
Net Income
Net Income