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Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $288,000 and $96,000, respectively Determine their participation in the year's net income of
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $288,000 and $96,000, respectively Determine their participation in the year's net income of $294,000 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 18% allowed on original investments and the remainder divided in the ratio of 23. d. Salary allowances of $60,000 and $84,000, respectively, and the balance divided equally e. Allowance of interest at the rate of 18% on original investments, salary allowances of $60,000 and $84,00 respectively, and the remainder divided equal. Hawes Albright (a (b)5
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