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X and Y have original investments of $47,176 and $...

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X and Y have original investments of $47,176 and $107,850 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 $28,803 and $30,420 respectively, and the remainder equally. How much of the net income of $118,415 is allocated to X? a.$28,803 b.$47,176 c.$55,365 d.$59,208

 

Paper#7726 | Written in 18-Jul-2015

Price : $25
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