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Carmelo Fernandez and Bobby Morett formed a partnership, investing $300,000 and $100,000, respectively. Determine their...

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Accounting

Carmelo Fernandez and Bobby Morett formed a partnership, investing $300,000 and $100,000, respectively.
Determine their participation in the next year's net income of $250,000 under each of the following independant assumptions.
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Dividing partnership income Carmelo Fernandez and Bobby Morett formed a partnership, investing $300,000 and $100,000, respectively. Determine their participation in the year's net income of $250,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $40,000 and $25,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $30,000 and $28,000, respectively, and the remainder divided

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