Question
Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70600
Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70600 and Alex is allowed a salary allowance of $35100. If the partnership had net income of $70300 for 2020, Alexs share of the income would be
$35200.
$7040.
$42240.
$28020.
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The Practice Of Modern Internal Auditing
Authors: Lawrence B Sawyer
1st Edition
B0006C58OA, 978-0894130120
