Jackson and Campbell have capital balances of $100,000 and $300,000 respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $120,000 of net income under each of the following assumptions:
(a)No agreement as to division of net income
(b)In ratio of capital balances
(c)In ratio of time devoted to business
(d)Interest of 10% on capital balances and the remainder divided equally
(e)Interest of 10% on capital balances, salaries of $40,000 to Jackson and $20,000 to Campbell, and the remainder divided equally

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The Answer of Jackson and Campbell have capital balances of $100,000 and $300,000 respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $120,000 of net income under each of the following assumptions:
(a)No agreement as to division of net income
(b)In ratio of capital balances
(c)In ratio of time devoted to business
(d)Interest of 10% on capital balances and the remainder divided equally
(e)Interest of 10% on capital balances, salaries of $40,000 to Jackson and $20,000 to Campbell, and the remainder divided equally

Jackson and Campbell Have Capital Balances of $100,000 and $300,000