Solution-How much net income is allocated to Sally

How much net income is allocated to Sally

Reference no: EM133047479

Question - Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000. The net income of the business is $168,000 for the year. Income is distributed based on the investment of each partner after allocation for salary. How much net income is allocated to Sally?

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How much net income is allocated to Sally

Reference no: EM133047479

Reference no: EM133047479

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