.Daja and Whitnee had capital balances of $140,000 and $160,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000.

Question

.Daja and Whitnee had capital balances of $140,000 and $160,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000.
.Daja and Whitnee had capital balances of $140,000 and $160,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000.

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The Answer of .Daja and Whitnee had capital balances of $140,000 and $160,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000.

Daja and Whitnee Had Capital Balances of $140,000 and $160,000