Xavier and Yolanda have original investments of $54,400 and $94,800, 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 $28,400 and $31,000, respectively; and the remainder to be divided equally. How much of the net income of $116,700 is allocated to Yolanda? Oa. $49,960 Ob. $76,428 Oc. $18,960 Od. $63,690
Xavier and Yolanda have original investments of $54,400 and $94,800, 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 $28,400 and $31,000, respectively; and the remainder to be divided equally. How much of the net income of $116,700 is allocated to Yolanda? Oa. $49,960 Ob. $76,428 Oc. $18,960 Od. $63,690
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 2BCRQ
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Transcribed Image Text:Xavier and Yolanda have original investments of $54,400 and $94,800, 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 $28,400 and
$31,000, respectively; and the remainder to be divided equally. How much of the net income of $116,700 is allocated to Yolanda?
Oa. $49,960
Ob. $76,428
Oc. $18,960
Od. $63,690
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT