Salary allowances of 22000 and 20000 respectively and the, Ask an Expert

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Xavier and Yolonda 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 15%, salary allowances of $22,000 and $20,000 respectively, and the remainder equally. How much of the net income of $90,000 is allocated to Xavier?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M979928

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