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  • Dissolution Exercise 2

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    Alleya. Jane Ali
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    This document shows taxable compensation commission (TCC), bonuses, and taxable annual compensation (TAC) for two employees at Capital and one employee named Franco. It also shows a journal entry to record Franco being admitted with a capital contribution of $100,000.

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    This document shows taxable compensation commission (TCC), bonuses, and taxable annual compensation (TAC) for two employees at Capital and one employee named Franco. It also shows a journal entry to record Franco being admitted with a capital contribution of $100,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    11 views1 page

    Dissolution Exercise 2

    Uploaded by

    Alleya. Jane Ali
    This document shows taxable compensation commission (TCC), bonuses, and taxable annual compensation (TAC) for two employees at Capital and one employee named Franco. It also shows a journal entry to record Franco being admitted with a capital contribution of $100,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 1

    TCC Bonus TAC

    Guererro, Capital 140,000 -2,700 137,300


    Alajar, Capital 56,000 -900 55,100
    Total 196,000 -3,600 192,400
    Franco 100,000 3,600 103,600
    Total 296,000 0 296,000

    Journal Entry:

    Guererro,Capital 75,000
    Alajar, Capital 25,000
    Franco, Capital 100,000
    - to record admission of Franco

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