Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of S45,000 to Tanner and S62,400 to Teresa. Net income of the partnership is S132,300. How should income be divided for Tanner and Teresa? a. Tanner, $56,600; Teresa, S75,700 Ob. Tanner, S61,600; Teresa, S70,700 Oc. Tanner, $57,600; Teresa, S74,700 Od. Tanner, S75,700; Teresa, $56,600
Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of S45,000 to Tanner and S62,400 to Teresa. Net income of the partnership is S132,300. How should income be divided for Tanner and Teresa? a. Tanner, $56,600; Teresa, S75,700 Ob. Tanner, S61,600; Teresa, S70,700 Oc. Tanner, $57,600; Teresa, S74,700 Od. Tanner, S75,700; Teresa, $56,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of $45,000 to
Tanner and S62,400 to Teresa. Net income of the partnership is $132,300. How should income be divided for Tanner and Teresa? a.
Tanner, $56,600; Teresa, S75,700 Ob. Tanner, $61,600; Teresa, $70,700 Oc. Tanner, $57,600; Teresa, S74,700 Od. Tanner, S75,700;
Teresa, $56,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F045198f9-ce86-4c6e-97ff-eb8741ad6287%2F417942fd-fab3-4208-8e4a-ce1e25b02300%2F6b0o8c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of $45,000 to
Tanner and S62,400 to Teresa. Net income of the partnership is $132,300. How should income be divided for Tanner and Teresa? a.
Tanner, $56,600; Teresa, S75,700 Ob. Tanner, $61,600; Teresa, $70,700 Oc. Tanner, $57,600; Teresa, S74,700 Od. Tanner, S75,700;
Teresa, $56,600
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