How much of the net income of $90,000 is allocated, Accounting Basics

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How much of the net income of $90,000 is allocated

Xavier and Yolonda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 15%, salary allowances of $22,000 and $20,000 respectively, and the remainder equally. How much of the net income of $90,000 is allocated to Xavier?

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Accounting Basics: How much of the net income of $90,000 is allocated

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Accounting Basics: How much of the net income of $90,000 is allocated

Reference No:- TGS079928

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: How much of the net income of $90,000 is allocated

Reference No:- TGS079928

Recent Questions Asked Accounting Basics

Q : How much cash is available for distribution to the partners

Q : Exhaust the limited resources of the earth

Q : Explain risks involved in task-oriented department

Q : Jarret interest payments on the loan

Q : How much of the net income of $90,000 is allocated

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Q : What are the 4 substrates for fatty acid synthesis

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Q : What amount of loss on realization should be allocated

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