Question

Xavier and Yolanda 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 10%, salary allowances of $38,000 and $28,000 respectively, and the remainder equally. How much of the net income of $75,000 is allocated to Xavier?
Select one:
a. $66,000
b. $40,000
c. $35,000
d. $43,000



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  • CreatedJuly 29, 2013
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