Desmond drury and ty wilkins have decided to form a

Reference no: EM13578987

Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $34,800 and that Wilkins is to invest $52,200. Drury is to devote full time to the business, and Wilkins is to devote one-half time. The following plans for the division of income are being considered: Equal division. In the ratio of original investments. In the ratio of time devoted to the business. Interest of 10% on original investments and the remainder in the ratio of 3:2. Interest of 10% on original investments, salary allowances of $59,200 to Drury and $29,600 to Wilkins, and the remainder equally. Plan (e), except that Wilkins is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary allowances. For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $261,000 and (2) net income of $114,900. (1) Net income of(2) Net income of $261,000$114,900Plan Drury Wilkins Drury Wilkins

Reference no: EM13578987

Questions Cloud

Current weekly demand forecast for an item follows a normal : question 1current weekly demand forecast for an item follows a normal distribution with a mean of 100 units with a

Ursula is employed by usa corporation usa corporation : ursula is employed by usa corporation. usa corporation provides medical and health disability and group life insurance

Mail service purchased equipment for 2500 martin paid 500 : mail service purchased equipment for 2500. martin paid 500 in a cash and signed a note for the balance. martin debited

What is a measure of dispersion of random variable values : what is a measure of dispersion of random variable values about the expected

Desmond drury and ty wilkins have decided to form a : desmond drury and ty wilkins have decided to form a partnership. they have agreed that drury is to invest 34800 and

An inspector correctly identifies defective products 90 of : an inspector correctly identifies defective products 90 of the time. for the next 10 products the probability that he

Smith west and krug form a partnership smith contributes : smith west and krug form a partnership. smith contributes 207000 west contributes 172500 and krug contributes 310500.

Hoboken corporation issued 649000 8 10-year bonds on : hoboken corporation issued 649000 8 10-year bonds on january 1 2012 for 606786. this price resulted in an

Finished goods inventory at the end of 2009 was 12000 units : 1 fantastic futons manufactures futons. the estimated number of futon sales for the first three months of 2010 are as

User Account

All Pages