merson and Dakota formed a partnership dividing income as follows: Annual salary allowance to Emerson of $41,200 Interest of 10% on each partner's capital balance on January 1 Any remaining net income divided equally. Emerson and Dakota had $26,800 and $133,200, respectively, in their January 1 capital balances. Net income for the year was $206,400. How much net income should be distributed to Dakota?

Rex and Kelsey are partners who share income in the ratio of 3:2. Their capital balances are $95,000 and $140,000 respectively, on January 1. The partnership generated net income of $40,000 for the year. What is Rex's capital balance after closing the revenue and expense accounts to the capital accounts? a. $71,000 b. $119,000 c. $146,000 d. $111,000 e. None of the above.

Lynn Carpenter and Matthew Fredrick formed a partnership in which the partnership agreement provided for salary allowances of $58,000 and $41,000, respectively. Determine the division of a $33,000 net loss for the current year, assuming that remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies. Lynn Carpenter Matthew Fredrick Total Salary Allowance 58,000 $ 41,000 99,000 Remainder $ $ $ Net Loss $ $ Feedback

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 10%; salary allowances of $38,000 and $28,000, respectively; and the remainder to be divided equally. How much of the net income of $77,000 is allocated to Yolanda? Oa. $77,000 Ob. $36,000 Oc. $44,000 Od. $38,000