I need help finishing this please. Candace Hassell and Abby Lawson formed a part
ID: 2500850 • Letter: I
Question
I need help finishing this please.
Candace Hassell and Abby Lawson formed a partnership, investing $378,000 and $126,000, respectively.
Determine their participation in the year's net income of $384,000 under each of the following independent assumptions:
No agreement concerning division of net income.
Divided in the ratio of original capital investment.
Interest at the rate of 10% allowed on original investments and the remainder divided in the ratio of 2:3.
Salary allowances of $81,000 and $111,000, respectively, and the balance divided equally.
Allowance of interest at the rate of 10% on original investments, salary allowances of $81,000 and $111,000, respectively, and the remainder divided equally.
Hassell Lawson (a) $ 192000 $ 192000 (b) $ $ 96000 (c) $ $ (d) $ $ (e) $ $Explanation / Answer
Hassell Lawson a) $192000 $192000 b) $288000 $96000 c) $133440 $200160 d) $96000 $96000 e) $70800 $70800
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