Business, 16.04.2020 20:18 smith3mgy

Tyler Hawes and Piper Albright formed a partnership, investing $187,500 and $62,500, respectively. Determine their participation in the year's net income of $295,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $38,000 and $49,000, respectively, and the balance divided equally. Allowance of interest at the rate of 6% on original investments, salary allowances of $38,000 and $49,000, respectively, and the remainder divided equally.

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Tyler Hawes and Piper Albright formed a partnership, investing $187,500 and $62,500, respectively. D...

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