Business, 29.06.2021 16:40 whitefang3153
Dividing Partnership Net Income
John Prado and Ayana Nicks formed a partnership, dividing income as follows: Annual salary allowance to Prado, $10,000 and Nicks, $28,000. Interest of 5% on each partner's capital balance on January 1. Any remaining net income divided equally. Prado and Nicks had $20,000 and $50,000, respectively, in their January 1 capital balances. Net income for the year was $30,000. How much net income should be distributed to Prado and Nicks?
Prado: $
Nicks: $
Answers: 3
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Dividing Partnership Net Income
John Prado and Ayana Nicks formed a partnership, dividing income as...
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