Listed here are the net income and the method of dividing net income or net loss for
Question:
Listed here are the net income and the method of dividing net income or net loss for several partnerships.
Instructions
Use the form provided in your working papers to determine each partner’s share of the net income.
Transcribed Image Text:
Net Income 1. $45,000 2. $89,700 3. $22,000 4. $32,000 5. $92,700 Method of Dividing Partnership Earnings Equally: 2 partners Fractional share: 2/3, 1/3 Fractional share: 3:1 Fractional share: 2/5, 2/5, 1/5 Equally: 3 partners
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