Paul and Xavier have a business selling homemade soaps. They have been very successful in their...
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Accounting
Paul and Xavier have a business selling homemade soaps. They have been very successful in their first year of operation and have made a profit of $48,000.
Your partnership agreement sets forth the following provisions:
• Paul will be assigned a salary of $11,000 to reflect his extensive knowledge of soap operas.
• Interest on principal will be provided at 7% per year.
• The balance of profits will be divided equally.
Questions
When they set up the business, Paul injected capital of $8,000 and Xavier $12,000.
How much utility is assigned to Xavier?
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You can see the logs in the Dashboard.