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Dividing partnership income

Carmelo Fernandez and Bobby Morett formed a partnership, investing $$300,000$ and $$100,000,$ respectively.

Determine their participation in the year's net income of $$250,000$ 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 $$40,000$ and $$25,000,$ respectively, and the balance divided equally.

e$.$ Allowance of interest at the rate of $6\%$ on original investments, salary allowances of $$30,000$ and $$28,000,$ respectively, and the remainder divided equally.

Fernandez

Morett

a$.$ $ $$ $

b$.$ $

c$.$

d$.$

$$

$$

$ $$

e$.$

$$

$ $$

$5$ more Check My Work uses remaining.

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