Jackson and campbell have capital balances of 100000 and

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Reference no: EM13605911

Jackson and campbell have capital balances of $100,000 and $300,000 respectively. jackson devotes full time and campbell one-half time to the business. determine the division of $120,000 of net income under each of the following assumptions: a) no agreement as to division of net income

b) in ratio of capital balances

c) in ratio of time devoted to business

d) interest of 10% on capital balances and remainder equally

e) interest of 10% on capital balances, salaries of $40,000 to jackson and $20,000 to campbell and the remainder equally.

Reference no: EM13605911

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