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Question
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 equally. How much of the net income of $91,000 is allocated to Yolanda?A.$26,500
B.$46,000
C.$45,000
D.$45,500
Answer
This answer is hidden. It contains 2 characters.
Related questions
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Horizontal analysis 2)Something that is both unusual and infrequent.
Extraordinary Items 3)Useful for comparing one company to another or a company with industry averages
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Vertical analysis 5)Focuses on a company's ability to generate net income
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Common-sized financial statements 8)A percentage analysis of increases and decreases in related items in comparative financial statements.
Change from one generally accepted accounting principle to another