1.) Xavier and Yolanda have original investments of $50,000 and $100,000 respect
ID: 2349848 • Letter: 1
Question
1.) 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 20%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $91,000 is allocated to Yolanda?
Answer:
A) $26,500
B) $46,000
C) $45,000
D) $45,500
2.) 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?
Answer:
A) $66,000
B) $40,000
C) $35,000
D) $43,000
Explanation / Answer
D) $45,500 C) $35,000
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