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?

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Originally Posted by minnietaylor

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?

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