Question
Partners Taryn and Tine have agreed to share profit and losses in an 80:20 ratio respectively after Taryn is allowed a salary allowance of $30,000
Partners Taryn and Tine have agreed to share profit and losses in an 80:20 ratio respectively after Taryn is allowed a salary allowance of $30,000 and Tine is allowed a salary allowance of $15,000. If the partnership has net income of $30,000 for 2017, Tine's share of the income would be
A) $15,000
B) $18,000
C) $3,000
D) $12,000
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Accounting Chapters 14-26
Authors: Carl Warren
27th Edition
1337272116, 978-1337272117
