13. 90,000 + 25,000 = 115,000/1.15 = 100,000 x .

15 = 15,000 – bonus

100,000 x .25 = 25,000 + 15,000 = 40,000

15

Joint Venture
Merchandise 1,200,000 Sales 2,020,000
Expenses 150,000 Merchandise Takeover 270,000
Expenses 190,000
Sales Discount 15,000 2,290,000
1,555,000 (1,555,000)
735,000

Joint Venture- Cash

Cash Contribution 1,500,000 Merchandise 1,200,000
Cash Sales 2,020,000 Expenses 150,000
Expenses 190,000
3,520,000 1,540,000
(1,555,000) Sales Discount 15,000
1,965,000

WIN REX BEN TOTAL

1. 1,350,000 x .05 67,500 67,500

2. Remainder 222,500 222,500 222,500 667,500

Equally
290,000 222,500 222,500 735,000
19

Joint Venture
Merchandise 1,250,000 Sales 1,800,000
Expenses 100,000 Merchandise Takeover 35,000
Expenses 75,000
1,835,000
1425,000 (1,425,000)
410,000

R COMPANY B TOTAL
COMPAN
Y
1. 20% x 850,000 170,000 170,000
2. 20% x 950,000 190,000 190,000

3. Remainder 25,000 25,000 50,000

 Equally
195,000 215,000 410,000
Ray Bo Company
Company
Investment 550,000 800,000
Expenses 75,000
Profit Share 195,000 820,000 215,000 1,015,000

Cash Withheld 850,000 950,000

Merchandise 20,000 870,000 15,000 965,000
Withheld
Equity -50,000 50,000
(Accountability)

750,000 x .20 = 150,000 + 277,000 = 427,000

980,000 x .20 = 196,000 + 277,000 = 473,000