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Pavel and Wrester have formed a partnership: During their first year of operations, the partnership earned $100,000. Their-proft-and-loss-sharing agreement states that, first, each partner
Pavel and Wrester have formed a partnership: During their first year of operations, the partnership earned $100,000. Their-proft-and-loss-sharing agreement states that, first, each partner will receive 25% of their capital balances. The second level is based on services, with $5,000 to Pavel and $25,000 to Wrester. The remainder then will be shared 32 between Pavel and Wrester, respectively Requirement 1. Calculate the amount of income each partner will receive under their proft-and-loss-sharing agreement assuming Paver's capital balance is $70,000 and Wirestar's capital balance is $70,000 (Complete Allows For amounts that are 30, make sure to enter "0" in the appropriate column) Net income (s) Capital location) Pavel Salary allowance Pavel W Talary and capital location Net income ) reming for allocation Share of remainder Pel Pavel Wrester Total
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