Beau Dawson and Willow McDonald formed a partnership, investing $67,500 and $202,500, respectively. Determine their participation in the year's net income of $285,000 under each of the following independent assumptions: c. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3.
Beau Dawson and Willow McDonald formed a partnership, investing $67,500 and $202,500, respectively. Determine their participation in the year's net income of $285,000 under each of the following independent assumptions: c. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3.
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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Beau Dawson and Willow McDonald formed a
Determine their participation in the year's net income of $285,000 under each of the following independent assumptions:
c. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3.
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