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Singer and McMann are partners in a business. Singer's original capital was $43,400 and McMann's was $55,400. They agree to salaries of $14,700 and $18,700
Singer and McMann are partners in a business. Singer's original capital was $43,400 and McMann's was $55,400. They agree to salaries of $14,700 and $18,700 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses on a 3:2 ratio, what will McMann's share of the income be if the income for the year is $58,700? O a. $30,408 ob. $18,700 Oc. $24,240 Od. $36,490 Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%; salary allowances of $38,000 and $28,000, respectively; and the remainder to be divided equally. How much of the net income of $77,000 is allocated to Yolanda? O a. $44,000 Ob. $38,000 Oc. $36,000 od. $77,000
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