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...

Xavier Yolanda Total 10 interest on original in ...

Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of

Question:

Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a The articles of 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 equally. How much of the net income of $75,000 is allocated to Xavier?
Select one:
a. $66,000
b. $40,000
c. $35,000
d. $43,000

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...