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 $27,000 and $18,000, respectively; and the remainder to be divided equally.
How much of the net income of $81,000 is allocated to Xavier?
a. $40,000
b. $3,000
c. $77,500
d. $78,500
Answers: 2
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Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership...
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