T & U form a partnership with initial investments of $100,000 and $200,000 respectively.Their agreement calls for a salary to T of $40,000 and a salary to U for $60,000.Each partner is to receive interest of 10% on their initial investment and they agree the remaining profit or loss is to be divided equally.If the net income for the period is $230,000 show the distribution to each partner:

Question

Quizplus · Accepted Answer

The Answer of T & U form a partnership with initial investments of $100,000 and $200,000 respectively.Their agreement calls for a salary to T of $40,000 and a salary to U for $60,000.Each partner is to receive interest of 10% on their initial investment and they agree the remaining profit or loss is to be divided equally.If the net income for the period is $230,000 show the distribution to each partner:

T & U Form a Partnership with Initial Investments of $100,000