Solution-How much of the net income of 90,000 is allocated

How much of the net income of 90,000 is allocated to seth

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Question - Seth and Rachel have original investments of 50,000 and 100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income; interest on original investments at 15%; salary allowances of 24,000 and 20,000, respectively; and the remainder to be divided equally. How much of the net income of 90,000 is allocated to Seth?

Reference no: EM132043754

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How much of the net income of 90,000 is allocated to seth

Reference no: EM132043754

Reference no: EM132043754

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