dividing partnership income

Project Description:

exercise 12-3 (algorithmic)
dividing partnership income

candace hassell and abby lawson formed a partnership, investing $232,000 and $116,000, respectively.

determine their participation in the year's net income of $330,000 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 10% allowed on original investments
and the remainder divided in the ratio of 2:3.

d. salary allowances of $55,000 and $77,000, respectively,
and the balance divided equally.

e. allowance of interest at the rate of 10% on original
investments, salary allowances of $55,000 and $77,000,
respectively, and the remainder divided equally.
hassell lawson
(a) $ $
(b) $ $
(c) $ $
(d) $ $
(e) $ $
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