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    chidub1 Posts: 1, Reputation: 1
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    Sep 14, 2016, 03:40 PM
    Accounting 2 Dividing partnership income
    Determine the income participation of Taylor and Albright, according to each of the five assumptions as to income division listed in Exercise 12-3, if the year's net income is $96,000.
    Brittany Taylor and Piper Albright formed a partnership, investing $210,000 and $70,000, respectively. Determine their participation in the year's net income of $250,000 under each of the following 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 5% allowed on original investments and the remainder divided in the ratio of 2:3; (d) salary allowances of $30,000 and $40,000, respectively, and the balance divided equally; (e) allowance of interest at the rate of 5% on original investments, salary allowances of $30,000 and $40,000, respectively, and the remainder divided equally.
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    ma0641 Posts: 15,675, Reputation: 1012
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    Sep 14, 2016, 06:21 PM
    I guess you didn't read about posting homework. Please do so and then we can help you.

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