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    jacq6jon's Avatar
    jacq6jon Posts: 2, Reputation: 1
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    #1

    Apr 5, 2009, 07:02 PM
    Dividing partnership
    Need to understand

    Gale Haley and Leah Manos formed a partnership, investing $180,000 and $60,000 respectively. Determine their participation in this year's net income of $150,000 under each of the following independent assumptions: (a) no agreement concerning division of net income; (b) divided in ratio of original capital investment; (c) interest at the rate of 10% allowed on original investments and the remainder divided in the ratio of 2:3; (d) salary allowances of $45,000 and $60,000 respectively, and the balance divided equally; (e) allowance of interest at the rate of 10% on original investments, salary allowances of $45,000 and $60,000 respectively, and the remainder divided equally.
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Apr 5, 2009, 11:41 PM

    a) No Agreement .
    Usually 50/50 =HALEY $ 75,000,
    ************=MANOS $ 75,000.
    ______________________________________
    b) 3:1
    HALEY 3/4 of $150,000 =
    MANOS 1/4 OF $150,000 =
    _____________________________________
    c),d) & e) the rest are just simple mathematical calculations.

    Have a go.

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