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Determine the share of net income

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Question - HUSSEN and HASSEN established a partnership named HH Limited Liability Partnership. HUSSEN invested Br 320,000 on January 1, 2004 and an additional investment of Br 100,000 on April 1, 2004. He also withdrew Br 70,000 on July 1, 2004. HASSEN invested Br 480,000 on January 1, 2004 and withdrew 100,000 on July 1, 2004 and made an additional investment of Br 40,000 on October 1, 2004. Determine the share of net income that must be allocated to the two partners assuming a total net income of Br 200,000:

A. Based on the original capital investment

B. Average capital account balances

Reference no: EM132662626

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