Salary allowances of 34000 and 26000 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 20%, salary allowances of $34,000 and $26,000 respectively, and the remainder equally. How much of the net income of $100,000 is allocated to Yolanda?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M981248

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