QUESTION 6 The net income of the Alex and Browning partnership is $250,000. The partnership...
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QUESTION 6 The net income of the Alex and Browning partnership is $250,000. The partnership agreement specifies that Alex and Browning have a salary allowance of $120,000 and S180,000, respectively. The partnership agreement also specifies an interest allowance of 10% on capital balances at the beginning of the year. Each partner had a beginning capital balance of $300,000. Any remaining net income or net loss is shared equally. What is Alex's share of the $250,000 net income? S155.000 O a $120,000 Ob $95.000 OC S300,000 Od
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