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What will be the distribution of income to noah

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Question - At the beginning of the year partners Noah and Jona have capital balances in a partnership of $50,000 and $75,000 respectively. They agree to share profits and losses as follows:

Noah Jona

As salaries$25,000$27,500

As interest on capital at the beginning of the year10%10%

Remaining profits or losses50%50%

If income for the year was $62,500, what will be the distribution of income to Noah?

$28,750.

$30,000.

$25,000.

$17,500.

Reference no: EM132115512

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