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Accounting for partnerships and limited liability companies, accounting, Basic Statistics
Tim Snyder and Jay Wise have decided to form a partnership. They have agreed that Snyder is to invest 30000 and Wise is to invest 40000. Snyder is to devote full time to the business, and Wise is to devote onehalf time. The following plans for the division of income are being considered:
Equal Dvision
In the ratio of Original Investments
In the ratio of time devoted to the business
Plan
Except that Snyder is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary allowances.
Determine the division of net income under 210000 and 84000
Posted Date: 2/16/2012 8:55:51 PM  Location : United States
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