Partnership net income of $33,000 is to be divided between two partners,Elan Chan and Roy Anderson, according to the following arrangement:  There will be salary allowances of $20,000 for Chan and $10,000 for Anderson, with the remainder divided equally.  How much of the net income will be distributed to Chan and Anderson, respectively?

a) $22,000 and $11,000
b) $21,000 and $11,500
c) $16,500 and $16,000
d) $21,000 and $12,000

Answer rating: 100% (QA)

Correct Option b 21000 a... View the full answer