Salary allowances of 27000 and 18000 respectively and the, Ask an Expert

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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 $27,000 and $18,000 respectively, and the remainder equally. How much of the net loss of $6,000 is allocated to Yolanda?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M981111

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