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Discuss how much of the net income is allocated

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X and Y have original investments of $100,000 each in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest of 10% on original capital investment, salary allowance of 25,000 and 10,000 respectively, and the remainder divided based on the amount of original investment. How much of the net income is allocated to X and Y if net income is 92,000 for the year (please show all work below).

Reference no: EM131760765

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