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    minnietaylor's Avatar
    minnietaylor Posts: 1, Reputation: 1
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    #1

    Oct 3, 2012, 05:11 AM
    How to break this problem down
    1.
    Alex Conyers and Shaunika Stevens formed a partnership, dividing income as follows:
    1. Annual salary allowance to Stevens of $45,000
    2. Interest of 8% on each partner's capital balance on January 1.
    3. Any remaning net income divided equally.
    Conyers and Stevens had $50,000 and $160,000 respecitvely in their January 1 capital balances. Net income for the year was $200,000.
    How much net income should be distributed to Stevens?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Oct 3, 2012, 06:17 AM
    Quote Originally Posted by minnietaylor View Post
    1.
    Alex Conyers and Shaunika Stevens formed a partnership, dividing income as follows:
    1. Annual salary allowance to Stevens of $45,000
    2. Interest of 8% on each partner's capital balance on January 1.
    3. Any remaning net income divided equally.
    Conyers and Stevens had $50,000 and $160,000 respecitvely in their January 1 capital balances. Net income for the year was $200,000.
    How much net income should be distributed to Stevens?

    AMHD doesn't do homework, because you wouldn't learn anything (same reason your teacher doesn't do your homework).

    Post your answer and someone will correct it.
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