Ahce and Bob allocate annual partnership income as follows. Each partner receives 20 of their beginning capital balances Each partner also receives a 58,000 salary. Remaming income is distributed 60 to Alice and 40% to Bob If current year net income is $78,000 and beginning capital balance for Alice and Bob are $100,000 and 560,000, respectively, how much net uncome is allocated to Bob? O $36,000 O 32,000 O S16,000 O S28,000

Ahce and Bob allocate annual partnership income as follows. Each partner receives 20 of their beginning capital balances Each partner also receives a 58,000 salary. Remaming income is distributed 60 to Alice and 40% to Bob If current year net income is $78,000 and beginning capital balance for Alice and Bob are $100,000 and 560,000, respectively, how much net uncome is allocated to Bob? O $36,000 O 32,000 O S16,000 O S28,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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