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 $54,600 and $90,100, respectively, in a partnership. The...

70.2K

Verified Solution

Question

Accounting

image
Xavier and Yolanda have original investments of $54,600 and $90,100, 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 allowantes of $26,000 and $29,700, respectively; and the remainder to be divided equally. How much of the net income of $116,600 is allocated to Xavier? A. 5,2,900 b, 56,450 c. 536,920 d. 526,000

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

7 Graph y cot x 3TT 2 TT y 34 N TT 2 0 2...

Calculus
Q

Hankins Corporation has 8.4 million shares of common stock outstanding, 590,000 shares of 7.4 percent preferred...

Finance
Q

Most of the time contractors bear most of the consequences in a project. What are some...

Civil Engineering
Q

To be able to use the conservation of energy on a moving body to determine key...

Mechanical Engineering
Q

how does the logistic regression work to further the ability of the results

Basic Math
Q

Detmer Liebold uses a job-order costing system with a single predetermined overhead rate based on direct...

Accounting
Q

M I about its axis of rotation is 2 Kg m 2 7 Calculate the...

Physics
Q

What is the product 0 0 0 0 7s 14 5x x 2 5 7x...

Basic Math
Q

The price of gas went up by 0 5 last month Suppose gas currently costs...

Algebra
Q

Ginos Restaurant is a popular restaurant in Boston, Massachusetts. The owner of the restaurant has...

Accounting
Q

During 2014, Markowitz Company exchanged $1,700,000 of its common stock for land. Indicate how the...

Accounting
Q

Question 6 (10 points) Which one of the following statements is correct? 1) The NYSE...

Finance