X and Y invest $100,000 and $50,000 respectively in a partnership and agree to a division of

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X and Y invest $100,000 and $50,000 respectively in a partnership and agree to a division of net income that provides for an allowance of interest at 10% on original investments, salary allowances of $24,000 and $12,000 respectively, with the remainder divided at a 2:1 ratio. Show all computations.

What would be X's & Y's share of the following net income:

a.$60,000

b.$50,000

Posted Date: Nov 17, 2021 09:02 PM

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X and Y invest $100,000 and $50,000 respectively in a partnership and agree to a division of

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