 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Dividing partnership income
Gale Haley and Leah Manos formed a partnership, investing $180,000 and $60,000 respectively.
Independent assumptions: (a) no agreement concerning division of net income; (b) divided in the 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. Determine Haley and Manos' participation in the year's net income of $150,000 under each of the independent assumptions presented in the exercise. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
This is my code and it tells me I'm dividing by zero but I don't understand why. Dim WallWidth As Decimal 'width of wall Dim WallHeight As Decimal 'height of wall Dim RollLength As Decimal ' length of wallpaper roll Dim RollWidth As Decimal ' width of wallpaper roll ...
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)...
Hi, I formed an LLC in 2008 with my other partners in the company. How should I file taxes for the profits earned from the LLC? I have received W-2 from my employer as well. I think I cannot show my income from LLC as "self employement" as I am on H1B visa and can work only for my...
View more questions Search
|
