The profit of the Miskell and Leblanc partnership is $ 30,000. The partnership agreement specifies that Miskell and Leblanc have a salary allowance of $ 8,000 and $ 12,000, respectively. The partnership agreement also specifies an interest allowance of 10% on capital balances at the beginning of the year. Each partner had a beginning capital balance of $ 20,000. Any remaining profit or loss is shared equally. What is the balance of Leblanc's Capital account at the end of the year after profit has been distributed?
A) $ 34,000
B) $ 32,000
C) $ 37,000
D) $ 35,000

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The Answer of The profit of the Miskell and Leblanc partnership is $ 30,000. The partnership agreement specifies that Miskell and Leblanc have a salary allowance of $ 8,000 and $ 12,000, respectively. The partnership agreement also specifies an interest allowance of 10% on capital balances at the beginning of the year. Each partner had a beginning capital balance of $ 20,000. Any remaining profit or loss is shared equally. What is the balance of Leblanc's Capital account at the end of the year after profit has been distributed?
A) $ 34,000
B) $ 32,000
C) $ 37,000
D) $ 35,000

The Profit of the Miskell and Leblanc Partnership Is