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Brief Exercise 12-04 Oriole Co. reports net income of 553,000. Partner salary allowances are Pitts $17,000, Filbert 56,000, and Witten $8,000. Indicate the division of
Brief Exercise 12-04 Oriole Co. reports net income of 553,000. Partner salary allowances are Pitts $17,000, Filbert 56,000, and Witten $8,000. Indicate the division of net income to each partner, assuming the income ratio is 55 : 22:23, respectively. Division of Net Income Pitts Filbert Total Salary allowance Remaining income Total division of net income Click if you would like to Show Work for this question: Open Show Work
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