Holly and Luke formed a partnership, investing $240,000 and $80,000, respectively. Determine their participation in the year's net income of $200,000 under each of the following independent assumptions:
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- Holly and Luke formed a partnership, investing $240,000 and $80,000, respectively. Determine their participation in the year's net income of $380,000 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 15% allowed on original investments and the remainder divided in the ratio of 2:3; Salary allowances of $50,000 and $70,000, respectively, and the balance divided equally; Allowance of interest at the rate of 15% on original investments, salary allowances of $50,000 and $70,000, respectively, and the remainder divided equally.Tyler Hawes and Piper Albright formed a partnership, investing $210,000 and $70,000, respectively. Determine their participation in the year's net income of $290,000 under each of the following independent assumptions: (a) no agreement concerning division of net income;Maria and Carlos formed a partnership, investing $400,000 and $300,000, respectively. Determine their participation in the year’s net income of $345,000 under each of the following independent assumptions: (a) No agreement concerning division of net income (equally); (b) Divided in the ratio of original capital investment; (c) Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 5:1; (d) Salary allowances of $44,350 and $33,450, respectively, and the balance divided equally;
- Cosmo and Ellis began a partnership by investing $40,000 and $51,000, respectively. During its first year, the partnership earned $185,000. Prepare calculations showing how the $185,000 income should be allocated to the partners under each of the following three separate plans for sharing income and loss: (1) The partners failed to agree on a method to share income. (2) The partners agreed to share income and loss in proportion to their initial investments. (3) The partners agreed to share income by granting a $52,500 per year salary allowance to Cosmo, a $42,500 per year salary allowance to Ellis, 20% interest on their initial capital investments, and the remaining balance shared equally.Beau Dawson and Willow McDonald formed a partnership, investing $65,000 and $195,000, respectively. Determine their participation in the year's net income of $275,000 under each of the following independent assumptions: a. No agreement concerning division of net income.b. Divided in the ratio of original capital investment.c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.d. Salary allowances of $38,000 and $49,000, respectively, and the balance divided equally.e. Allowance of interest at the rate of 5% on original investments, salary allowances of $38,000 and $49,000, respectively, and the remainder divided equally. Dawson McDonald a. $fill in the blank 1 $fill in the blank 2 b. $fill in the blank 3 $fill in the blank 4 c. $fill in the blank 5 $fill in the blank 6 d. $fill in the blank 7 $fill in the blank 8 e. $fill in the blank 9 $fill in the blank 10Beau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. Determine their participation in the year's net income of $136,000 under each of the following independent assumptions: a. No agreement concerning division of net income.b. Divided in the ratio of original capital investment.c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.d. Salary allowances of $47,000 and $59,000, respectively, and the balance divided equally.e. Allowance of interest at the rate of 5% on original investments, salary allowances of $47,000 and $59,000, respectively, and the remainder divided equally.
- Tyler Hawes and Piper Albright formed a partnership, investing $108,000 and $162,000, 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 $40,000 and $48,000, respectively, and the balance divided equally. Allowance of interest at the rate of 6% on original investments, salary allowances of $40,000 and $48,000, respectively, and the remainder divided equally.Beau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. Determine their participation in the year's net income of $136,000 under each of the following independent assumptions: a. No agreement concerning division of net income b. Divided into the ration of original capital investment. c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3Tyler Hawes and Piper Albright formed a partnership, investing $60,000 and $180,000, respectively. Determine their participation in the year's net income of $285,000 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 $40,000 and $47,000, respectively, and the balance divided equally. Allowance of interest at the rate of 6% on original investments, salary allowances of $40,000 and $47,000, respectively, and the remainder divided equally. Hawes Albright (1) $142500 $142500 (2) $95000 $190000 (3) $ $ (4) 139000 $146000 (5) $ $ Can you help me fill in the blank boxes as I don't know how to figure those out after watching seeral examples. Also, can you confirm the boxes I have filled i are correct as well?
- Beau Dawson and Willow McDonald formed a partnership, investing $75,000 and $225,000, respectively. Determine their participation in the year's net income of $300,000 under each of the following independent assumptions: a. No agreement concerning division of net income.b. Divided in the ratio of original capital investment.c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.d. Salary allowances of $34,000 and $46,000, respectively, and the balance divided equally.e. Allowance of interest at the rate of 5% on original investments, salary allowances of $34,000 and $46,000, respectively, and the remainder divided equally. Dawson McDonald a. $ $ b. $ $ c. $ $ d. $ $ e. $ $Beau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. Determine their participation in the year’s net income of $380,000 under each of the following independent assumptions: a. No agreement concerning division of net income.b. Divided in the ratio of original capital investment.c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.d. Salary allowances of $47,000 and $59,000, respectively, and the balance divided equally.e. Allowance of interest at the rate of 5% on original investments, salary allowances of $47,000 and $59,000, respectively, and the remainder divided equally. Question EBeau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. Determine their participation in the year's net income of $380,000 under each of the following independent assumptions: a. No agreement concerning division of net income. b. Divided in the ratio of original capital investment. c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $47,000 and $59,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 5% on original investments, salary allowances of $47,000 and $59,000, respectively, and the remainder divided equally. Dawson McDonald a. b. C. d. e. $ $ $ $ $ $