James is a 30% partner, Kyle is a 30% partner, and Joe is a 40% partner. Kyle

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James is a 30% partner, Kyle is a 30% partner, and Joe is a 40% partner. Kyle and Joe each take a $3,000 monthly salary. James is solely an investor and takes no salary. If the net income is $10,000 for the month, how is it distributed?

James = ?

Kyle = ?

Joe = ?

Related Book For answer-question

Survey of Accounting

ISBN: 978-1285183480

7th edition

Authors: Carl S. Warren

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Posted Date: May 25, 2018 01:10 AM

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James is a 30% partner, Kyle is a 30% partner, and Joe is a 40% partner. Kyle

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Profit Sharing Ratio between partners James 30 Kyle 30 Joe 40 Net Income for the M... View the full answer

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