htps//newoonnect.mbeducat 4617 0 Seve & E Help Zheng invested $100,000 and Murra

Question

htps//newoonnect.mbeducat 4617 0 Seve & E Help Zheng invested $100,000 and Murray invested $200,000 alowance to Zheng and a $40000 per year seiary alowance to Murrey, plus an intorest alowance on the partners beginning year capital investments at so with the balance to be shared equally Under this egreement,the shares in a partnership They agreed to share incomes and losses by allowing a $60000 per yeer salary of the pertners when the partnership eams $105,000 in income are Muiple Choice $52.500 to 2neng $52500 10 Murray 35.000 to Zheng $70000 to Muray $57500 to Zheng: 947500 to Mumay $42.500 to Zheng $62.500 toMuy

Explanation / Answer

Solution:

Hence 3rd option is correct.

Division of Income Particulars Zheng Murray Total Total Income (Loss) $105,000.00 Interest on capital $10,000.00 $20,000.00 $30,000.00 Balance of Income (Loss) $75,000.00 Salary to Partners $60,000.00 $40,000.00 $100,000.00 Balance of Income (Loss) -$25,000.00 Balance to be allocated equally -$12,500.00 -$12,500.00 -$25,000.00 Total Share of Income $57,500.00 $47,500.00 $105,000.00

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