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A partnership began its first year of operations with the following capital balances: South, Capital: $ 1 0 0 , 0 0 0 West, Capital:
A partnership began its first year of operations with the following capital balances:
South, Capital: $
West, Capital: $
Door, Capital: $
The Articles of Partnership stipulated that profits and losses be assigned in the following manner:
West was to be awarded an annual salary of $
Each partner was to be attributed with interest equal to of the beginning capital balance.
The remainder was to be assigned on a :: basis to South, West, and Door, respectively.
Assume that the net income for the first year was $ How much net income will be allocated to South for the first year ie what is South's share in net income
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