Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. xavier and yolanda have original investments of $5

Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The...

70.2K

Verified Solution

Question

Accounting

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 to be divided equally. How much of the net income of $120,000 is allocated to Yolanda?

a. $106,000

b. $15,000

c. $61,000

d. $104,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Programming
1.2K views

Developing a Faster Intersection Algorithm Scenario We have already seen an algorithm that produces an intersection...

Physics
1.2K views

A constant force acting at the centre of a uniform disc of radius r is...

Geometry
1.2K views

9 Find the value of x that makes the lines parallel x 3x 20 8x...

Basic Math
1.2K views

Translate the phrase into an algebraic expression Use x for the variable 21 less than...

Basic Math
1.2K views

Vrite the equation of a sine or cosine function to describe the graph 2x 3...

Basic Math
1.2K views

Tim works for a cell phone company and is testing their new biometric security feature...

Accounting
1.2K views

Assume that Morrison Company used cash to acquire machinery expected to contribute to the generation...

Accounting
1.2K views

In reviewing activity for July, the controller of Mathis, Inc., collected the following data concerning...

Accounting
1.2K views

why is this wrong? E11-10 (Algo) Computing Dividends on...

Accounting
1.2K views

Altra Corporation provides the following information related to its merchandise inventory during the month of...

Accounting
1.2K views

Smithen Company, a wholesale distributor, has been operating for only a few months. The company...

Accounting
1.2K views

On April 14, a company lends $10,000 cash to one of its employees and accepts...