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Please help, i cant seem to figure out the rest of the answers Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing
Please help, i cant seem to figure out the rest of the answers
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $72,500 and $217,500, respectively. Determine their participation in the year's net income of $110,000 under each of the following independent assumptions: a. No agreement concerning division of net income. b. Divided in the ratio of original capital investment. C. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:2 d. Salary allowances of $34,000 and $48,000, respectively, and the balance divided equally, e. Allowance of interest at the rate of 6% on original investments, salary allowances of $34,000 and $48,000, respectively, and the remainder divided equally. Hawes Albright (a) 55,000 55,000 (b) (d) INI $ $ $ ta (e) Step by Step Solution
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