Nguyen invested $8,000 and Hansen invested $12,000 in a partnership. They agreed to share incomes and losses
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Nguyen invested $8,000 and Hansen invested $12,000 in a partnership. They agreed to share incomes and losses by allowing a $9,000 per year salary allowance to Nguyen and a $12,000 per year salary allowance to Hansen, plus interest on the partners\' investments at 10%, with the balance to be shared equally. Under this agreement, the shares of the partners with a $51,000 net income are:
A.$10,500 to Nguyen; $10,500 to Hansen.
B.$23,800 to Nguyen; $27,200 to Hansen.
C.$9,000 to Nguyen; $12,000 to Hansen.
D.$26,000 to Nguyen; $25,000 to Hansen.
E.$14,500 to Nguyen; $35,500 to Hansen.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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