Question
Please help! Maria and Carlos formed a partnership, investing $400,000 and $300,000, respectively. Determine their participation in the years net income of $345,000 under each
Please help!
Maria and Carlos formed a partnership, investing $400,000 and $300,000, respectively.
Determine their participation in the years net income of $345,000 under each of the following independent assumptions:
(a) No agreement concerning division of net income (equally);
(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 5:1;
(d) Salary allowances of $44,350 and $33,450, respectively, and the balance divided equally;
(Must be in Format Below)
Maria | Carlos | |
a | ||
b | ||
c | ||
d |
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