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Dividing partnership income Carmelo Fernandez and Bobby Morett formed a partnership, investing $ 1 0 4 , 0 0 0 and $ 1 5 6

Dividing partnership income
Carmelo Fernandez and Bobby Morett formed a partnership, investing $104,000 and $156,000, respectively.
Determine their participation in the years net income of $295,000 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 $38,000 and $50,000, respectively, and the balance divided equally.
e. Allowance of interest at the rate of 6% on original investments, salary allowances of $38,000 and $50,000, respectively, and the remainder divided equally.
Assumption Fernandez Morett
a. $fill in the blank 1
$fill in the blank 2
b. $fill in the blank 3
$fill in the blank 4
c. $fill in the blank 5
$fill in the blank 6
d. $fill in the blank 7
$fill in the blank 8
e. $fill in the blank 9
$fill in the blank 10

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