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Partners Jelly and Flex have agreed to share profits and losses in a 80:20 ratio respectively after Jelly is allowed a salary allowance of $
Partners Jelly and Flex have agreed to share profits and losses in a 80:20 ratio respectively after Jelly is allowed a salary allowance of $ 70.000 and Flex is allowed a salary allowance of $ 35.00. If the partnership had a net income of $ 70.000 for 2017, Flex share of the income would be
A) $ 28.000
B) $ 35.000
C) $ 42.000
D) $ 7.000
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