Ben bowman and savannah mapes formed a limited liability, Financial Accounting

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Ben bowman and savannah mapes formed a limited liability

Dividing LLC Income

Ben Bowman and Savannah Mapes formed a limited liability company with an operating agreement that provided a salary allowance of $89,000 and $71,000 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:2. The two members withdrew amounts equal to their salary allowances.

a. Determine the division of $226,000 net income for the year.

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Financial Accounting: Ben bowman and savannah mapes formed a limited liability

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Financial Accounting: Ben bowman and savannah mapes formed a limited liability

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