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?
a. $77,000
b. $38,000
c. $36,000
d. $44,000
Answer: c
You might also like to view...
Which source of resistance to change makes an organization slow to change after having followed the same rules and procedures for many years?
a. Structural inertia b. Group inertia c. Limited focus of change d. Threat to expertise
All of the following are covered autos under the liability section of the PAP EXCEPT
A) a nonowned van which is driven by the insured on a regular basis. B) a trailer owned by the named insured. C) a borrowed auto used by the insured as a substitute for a stolen covered auto. D) a newly acquired auto which replaces a vehicle previously described in the policy.
Which of the following factors reduces the effectiveness of a media plan?
A. information overload B. time pressures C. audience diversity D. product life cycle differences E. market segmentation
When a company makes a payment for amounts owed from prior purchases, it will record a debit to ________ and a credit to ________.
A. Cash; an expense B. Accounts Payable; Retained Earnings C. an expense? Cash D. Accounts Payable? Cash