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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 the rate of 18% on original investments, salary allowances of $48,000 and $66,000, respectively, and the remainder divided equally.

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Answer #1
a
Tyler Hawes Piper Albright
Total 141000 141000
b
Tyler Hawes Piper Albright
Total 169200 112800
c
Tyler Hawes Piper Albright
Interest 32400 21600
Remainer income 91200 136800
Total 123600 158400
d
Tyler Hawes Piper Albright
Salary 48000 66000
Remainer income 84000 84000
Total 132000 150000
e
Tyler Hawes Piper Albright
Interest 32400 21600
Salary 48000 66000
Remainer income 57000 57000
Total 137400 144600
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