Question

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

Seth and Beth 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 $27,000 and $18,000, respectively; and the remainder to be divided equally. How much of the net income of $42,000 is allocated to Seth?A: $23,000 B:$32,000 C:$20,000 D:$0

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Partner 1 and Partner 2 have original investments of $50,000 and $100,000 respectively in a partnership....
Partner 1 and Partner 2 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 20%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $91,000 is allocated to Partner 2? Please show work to help me understand the material.
Xavier and Yolanda have original investments of $49,400 and $107,600, respectively, in a partnership. The articles...
Xavier and Yolanda have original investments of $49,400 and $107,600, 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 $26,100 and $31,800, respectively; and the remainder to be divided equally. How much of the net income of $118,100 is allocated to Yolanda? a.$21,520 b.$81,264 c.$53,320 d.$67,720
Xavier and Yolanda have original investments of $50 000 and $100 000 respectively in a partnership....
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 $27, 000 and $18, 000 respectively and the remainder equally. How much of the net loss of $6,000 is allocated to Yolanda?
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $192,000 and $96,000, respectively....
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $192,000 and $96,000, respectively. Determine their participation in the year's net income of $324,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 12% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $45,000 and $63,000, respectively, and the balance divided equally. Allowance...
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $369,000 and $123,000, respectively....
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $369,000 and $123,000, respectively. Determine their participation in the year's net income of $264,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 18% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $78,000 and $108,000, respectively, and the balance divided equally. Allowance...
Dividing Partnership Income Candace Hassell and Abby Lawson formed a partnership, investing $261,000 and $87,000, respectively....
Dividing Partnership Income Candace Hassell and Abby Lawson formed a partnership, investing $261,000 and $87,000, respectively. Determine their participation in the year's net income of $372,000, 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 12% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $55,000 and $77,000, respectively, and the...
Tyler Hawes and Piper Albright formed a partnership, investing $180,000 and $120,000, respectively. Determine their participation...
Tyler Hawes and Piper Albright formed a partnership, investing $180,000 and $120,000, respectively. Determine their participation in the year's net income of $282,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 18% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $48,000 and $66,000, respectively, and the balance divided equally. Allowance of interest at...
Tyler Hawes and Piper Albright formed a partnership, investing $187,500 and $62,500, respectively. Determine their participation...
Tyler Hawes and Piper Albright formed a partnership, investing $187,500 and $62,500, respectively. Determine their participation in the year's net income of $270,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $40,000 and $47,000, respectively, and the balance divided equally. Allowance of interest at...
Tyler Hawes and Piper Albright formed a partnership, investing $62,500 and $187,500, respectively. Determine their participation...
Tyler Hawes and Piper Albright formed a partnership, investing $62,500 and $187,500, respectively. Determine their participation in the year's net income of $270,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $36,000 and $48,000, respectively, and the balance divided equally. Allowance of interest at...
Dividing Partnership Income Candace Hassell and Abby Lawson formed a partnership, investing $387,000 and $129,000, respectively....
Dividing Partnership Income Candace Hassell and Abby Lawson formed a partnership, investing $387,000 and $129,000, respectively. Determine their participation in the year's net income of $354,000 under each of the following independent assumptions: A) Salary allowances of $81,000 and $111,000, respectively, and the balance divided equally. B) Allowance of interest at the rate of 18% on original investments, salary allowances of $81,000 and $111,000, respectively, and the remainder divided equally. Hassell Lawson A = _________ ________ B = _________ ________
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT