Question
Xavier and Yolanda have original investments of $51,200 and $103,600, respectively, in a partnership. The articles of partnership include the following provisions regarding the
Xavier and Yolanda have original investments of $51,200 and $103,600, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 20%; salary allowances of $25,200 and $31,400, respectively; and the remainder to be divided equally. How much of the net income of $113,500 is allocated to Yolanda?
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Federal Taxation 2016 Comprehensive
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
29th Edition
134104374, 978-0134104379
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