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Evan and Jordyn invested $99,000 and $126,000, respectively, in a partnership they began one year ago. Assuming the partnership earned $120,000 during the current year,
Evan and Jordyn invested $99,000 and $126,000, respectively, in a partnership they began one year ago. Assuming the partnership earned $120,000 during the current year, compute the share of the net income each partner should receive under each of these independent assumptions. The partnership contract specifies salary allowances of $45,000 to Evan and $60,000 to Jordyn and any balance shared equally. The partnership contract specifies salary allowances of $45,000 to Evan and $60,000 to Jordyn interest allowance of 8% on the partners' beginning capital balance and any balance shared equally. Evan's Share Jordyn's Share Total
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