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Need help asap please, just need answer, Tanner and Teresa share income and losses in a 2:1 ratio ( 2/3 to Tanner and 1/3 to
Need help asap please, just need answer,
Tanner and Teresa share income and losses in a 2:1 ratio ( 2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of $48,000 to Tanner and $70,800 to Teresa. Net income of the partnership is $133,800. How should income be divided for Tanner and Teresa? a. Tanner, $54,000; Teresa, $79,800 b. Tanner, $80,800; Teresa, $53,000 c. Tanner, $53,000; Teresa, $80,800 d. Tanner, $58,000; Teresa, $75,800 Step by Step Solution
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