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 20%; salary allowances of $34,000 and $26,000, respectively; and the remainder to be divided equally. How much of the net income of $120,000 is allocated to
Yolanda?
a. $46,000
b. $61,000
c. $60,000
d. $66,000
b
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A shortened form of the ledger is called a ________
A) trial balance B) balance sheet C) chart of accounts D) T-account
When planning, the goal of all firms in the supply chain should be to maximize supply chain profits because
A) this leaves them less profit to divide among themselves. B) this leaves them more profit to divide among themselves. C) this outcome leaves them more profit to pay tax on. D) this outcome will increase their charitable giving.
An S corporation is treated the same as a regular corporation for tax purposes
Answer the following statement true (T) or false (F)
Unlike traditional HTML, which of the following lets writers communicate and readers respond on a regular basis through a simple online journal?
A. Email B. Blog C. HTTP D. Instant messaging