Larry,Mo,and Curley are partners in Stooges Company with the following balances in their capital balances.
Larry $100,000 Mo $70,000 Curley $25,000
Their partnership agreement has the following provision for the division of income and losses.
Each partner to receive 10% of their capital balance.
Curley is to receive a salary of $30,000
Any residual is to be divided on a 5:3:2 basis
If Stooges Company generated $20,000 of net income how will it be divided among the partners?

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The Answer of Larry,Mo,and Curley are partners in Stooges Company with the following balances in their capital balances.
Larry $100,000 Mo $70,000 Curley $25,000
Their partnership agreement has the following provision for the division of income and losses.
Each partner to receive 10% of their capital balance.
Curley is to receive a salary of $30,000
Any residual is to be divided on a 5:3:2 basis
If Stooges Company generated $20,000 of net income how will it be divided among the partners?

Larry,Mo,and Curley Are Partners in Stooges Company with the Following