Ramer and Knox began a partnership by investing $ and $ respectively. The partners agreed to share net income and loss by giving annual salary allowances of $ to Ramer and $ to Knox, interest allowances on their investments, and any remaining balance shared equally.
Note: Enter all allowances as positive values. Enter losses as negative values.
Required:
Determine each partner's share given a firstyear net income of $
Determine each partner's share given a firstyear net loss of $
Complete this question by entering your answers in the tabs below.
Required
Determine each partner's share given a firstyear net income of $
tableAllocation of Partnership Incomemer,,inox,TotalNet Income loss$Salary allowances,$$Balance of income lossInterest allowances,,Balance of income lossBalance allocated equally,,,,Balance of income lossShares of the partners,,,,,,
