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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 one-half time. The following plans for the division of income are being considered:
In the ratio of Original Investments
In the ratio of time devoted to the business
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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