Solution-Determine the proper division of income among the

Determine the proper division of income among the partners

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Reference no: EM13540042

Income distribution: Different arrangements.

Frank, Gatti, and Hogan recently invested 530,000 each and formed the Apex partnership.

During the first year of operation, the business generated a net income of $39,000.

Determine the proper division of income among the partners for the following independent cases:

a. Income is divided on the basis of a ratio of the beginning capital investments.

b. Partners are allowed 12% interest on their investments; the remaining profits and losses are allocated on a 6:1:3 basis.

c. Frank and Hogan each receive salary allowances of $24,000 per year; the remaining profits and losses are shared equally.

Reference no: EM13540042

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Determine the proper division of income among the partners

Reference no: EM13540042

Reference no: EM13540042

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