Xavier and Yolanda have original investments of $51,500 and $100,100, respectively, in a partnership. The...
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Accounting
Xavier and Yolanda have original investments of $51,500 and $100,100, 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 $27,200 and $29,600, respectively; and the remainder to be divided equally. How much of the net income of $114,400 is allocated to Xavier? a. $37,500 b. $61,368 c. $51,140 d. $27,200
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