Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. xavier and yolanda have original investments of $5

Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The...

70.2K

Verified Solution

Question

Accounting

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 to be divided equally. How much of the net income of $120,000 is allocated to Yolanda?

a. $106,000

b. $15,000

c. $61,000

d. $104,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A bomb calorimeter, or constant volume calorimeter, is a device often used to determine the heat...

Chemistry
Q

Concept Map: Diversity of capacitor types used in electronics. To Do: 1) Cite 4 examples of capacitor’s use...

Electrical Engineering
Q

While exploring a castle, Exena the Exterminator is spotted by a dragon who chases her down...

Physics
Q

Case Study Up selling and Cross selling “But I don't want to sell anything—that's not why...

General Management
Q

Which of the following effects might be caused by reduced or very little active telomerase...

Biology
Q

A 5 litre of vessel contains 2 mole of oxygen gas at pressure of 8...

Physics
Q

A particle undergoing rectilinear motion has its velocity vs distance travelled as shown below 1...

Physics
Q

UUU Real income per person Access to and quality of health care Access to and...

Statistics
Q

At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $13.6 million. $10.6...

Accounting
Q

Sales Value ? refer image

Accounting
Q

Jordan Inc. manufactures water heaters. The company purchased 50,000 pounds of copper at a price...

Accounting
Q

Which of the following is a true statement about the limitation on business interest deductions?...

Accounting