question archive I need help with below question
I need help with below question
Subject:AccountingPrice: Bought3
I need help with below question.
- Management fees will be paid quarterly, at 2% (annual) of the total limited partner commitment amount, and will be assesed pro-rata
- Management fees will be offset by any placement fees paid, until the entire placement fee is offset.
- Mitch, Brian, and Inna paid placement fees of 2% of their commitment.
- Please calculate the management fee for both Q1 and Q2
| LP | Commitment |
| Daisy | $ 100,000 |
| Mitch | $ 250,000 |
| Brian | $ 100,000 |
| Inna | $ 500,000 |
| JB | $ 200,000 |
| Derek | $ 300,000 |
| General Partner | $ 25,000 |
| Total | $ 1,475,000 |
