Tyler Hawes and Piper Albright formed a partnership, investing $195,000 and $65,000, respectively. Determine their...
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Accounting
Tyler Hawes and Piper Albright formed a partnership, investing $195,000 and $65,000, respectively. Determine their participation in the year's net income of $270,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $34,000 and $49,000, respectively, and the balance divided equally. Allowance of interest at the rate of 5% on original investments, salary allowances of $34,000 and $49,000, respectively, and the remainder divided equally. Hawes Albright (a) $fill in the blank 1 $fill in the blank 2 (b) $fill in the blank 3 $fill in
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