Lin and Coral invested $99,000 and $126,000,respectively,in a partnership they began one year ago.Assuming the partnership earned $120,000 during the current year;compute the share of the net income each partner should receive under each of these independent assumptions.
1.The partnership contract specifies salary allowances of $45,000 to Lin and $60,000 to Coral,and any balance shared equally.

Question

Quizplus · Accepted Answer

The Answer of Lin and Coral invested $99,000 and $126,000,respectively,in a partnership they began one year ago.Assuming the partnership earned $120,000 during the current year;compute the share of the net income each partner should receive under each of these independent assumptions.
1.The partnership contract specifies salary allowances of $45,000 to Lin and $60,000 to Coral,and any balance shared equally.

Lin and Coral Invested $99,000 and $126,000,respectively,in a Partnership They