Question
Dividing Partnership Income Beau Dawson and Willow McDonald formed a partnership, investing $100,000 and $150,000, respectively. Determine their participation in the year's net income of
Dividing Partnership Income Beau Dawson and Willow McDonald formed a partnership, investing $100,000 and $150,000, respectively. Determine their participation in the year's net income of $290,000 under each of the following independent assumptions: a. No agreement concerning division of net income. b. Divided in the ratio of original capital investment. c. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $36,000 and $50,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $36,000 and $50,000, respectively, and the remainder divided equally. Dawson McDonald a. $fill in the blank 1 145,000.00 $fill in the blank 2 145,000.00 b. $fill in the blank 3 116,000 $fill in the blank 4 174,000 c. $fill in the blank 5 116,000 $fill in the blank 6 174,000 d. $fill in the blank 7 138,000 $fill in the blank 8 152,000 e. $fill in the blank 9 $fill in the blank 10
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