Question
Phillip and Jasmine formed a partnership. Phillip contributed $60,000 and Jasmine $90,000. The partnership agreement provides for annual salaries of $90,000 to Phillip and $150,000
Phillip and Jasmine formed a partnership. Phillip contributed $60,000 and Jasmine $90,000. The partnership agreement provides for annual salaries of $90,000 to Phillip and $150,000 to Jasmine. Each partner is entitled to 20% interest on capital. The remainder is divided equally. If Profit is $480,000 how much will Phillip be allocated?
|
| $204,000 |
|
| $207,000 |
|
| $237,000 |
|
| $252,000
|
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Auditing Oracle E Business Suite Common Issues
Authors: Jeffrey T. Hare
1st Edition
1329529766, 978-1329529762
