Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $108,000 and $162,000, respectively....

  

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Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $108,000 and $162,000, respectively. Determine their participation in the year's net income of $108,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:2. d. Salary allowances of $36,000 and $48,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $36,000 and $48,000, respectively, and the remainder divided equally. (a) (b) (c) (d) (e) $ $ $ $ 1000 $ Hawes ₩ $ 10 $ $ Albright $ Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $108,000 and $162,000, respectively. Determine their participation in the year's net income of $108,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:2. d. Salary allowances of $36,000 and $48,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $36,000 and $48,000, respectively, and the remainder divided equally. (a) (b) (c) (d) (e) $ $ $ $ 1000 $ Hawes ₩ $ 10 $ $ Albright $

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Division of Income 290000 S No Particulars Hawes Albright a No agreement concerning division of net ... View the full answer