Xavier and Yolanda have original investments of $54,900 and $100,100, 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 $26,200 and $31,100, respectively; and the remainder to be divided equally. How much of the net income of $115,300 is allocated to Xavier?
Xavier and Yolanda have original investments of $54,900 and $100,100, 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 $26,200 and $31,100, respectively; and the remainder to be divided equally. How much of the net income of $115,300 is allocated to Xavier?
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 2BCRQ
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Xavier and Yolanda have original investments of $54,900 and $100,100, respectively, in a
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