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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 $34,000 and $26,000 respectively, and the remainder equally. How much of the net income of $100,000 is allocated to Yolanda?A.$49,000
B.$51,000
C.$50,000
D.$56,000
Answer
This answer is hidden. It contains 2 characters.
Related questions
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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