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 $39,900 to Tanner and $57,000 to Teresa. Net income of the partnership is $131,400. How should income be divided for Tanner and Teresa? Oa. Tanner, $62,900; Teresa, $68,500 Ob. Tanner, $58,900; Teresa, $72,500 Oc. Tanner, $57,900; Teresa, $73,500 Od. Tanner, $73,500; Teresa, $57,900

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 $39,900 to Tanner and $57,000 to Teresa. Net income of the partnership is $131,400. How should income be divided for Tanner and Teresa? Oa. Tanner, $62,900; Teresa, $68,500 Ob. Tanner, $58,900; Teresa, $72,500 Oc. Tanner, $57,900; Teresa, $73,500 Od. Tanner, $73,500; Teresa, $57,900

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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