Xavier and Yolanda have original investments of $46,000 and $103,600, 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 $26,800 and $31,800, respectively; and the remainder to be divided equally. How much of the net income of $111,000 is allocated to Xavier? Oa. $47,240 Ob. $56,688 Oc. $36,000 Od. $26,800

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter21: Partnerships
Section: Chapter Questions
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Xavier and Yolanda have original investments of $46,000 and $103,600, 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 $26,800 and
$31,800, respectively; and the remainder to be divided equally. How much of the net income of $111,000 is allocated to Xavier?
Oa. $47,240
Ob. $56,688
Oc. $36,000
Od. $26,800
Transcribed Image Text:Xavier and Yolanda have original investments of $46,000 and $103,600, 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 $26,800 and $31,800, respectively; and the remainder to be divided equally. How much of the net income of $111,000 is allocated to Xavier? Oa. $47,240 Ob. $56,688 Oc. $36,000 Od. $26,800
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