Question
1.S & T form a partnership with $50,000 and $150,000 respectively. Their article of co-partnership calls for the net income distribution based on initial investment.
1.S & T form a partnership with $50,000 and $150,000 respectively. Their article of co-partnership calls for the net income distribution based on initial investment. What would partner S share of net income be under this provision assuming net income was $90,000?
2.X & Y form a partnership with initial investments of $75,000 and $125,000 respectively. Partner X works three fourths and partner Y works full time. The partners agree to split profit and loss in the ratio of their initial investment.Assuming a net income of $50,000 what would each partners division be?
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