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Farmer and Taylor formed a partnership with capital contributions of $235.000 and $285,000, respectively. Their partners
Posted: Mon May 30, 2022 7:58 am
by answerhappygod
- Farmer And Taylor Formed A Partnership With Capital Contributions Of 235 000 And 285 000 Respectively Their Partners 1 (22.51 KiB) Viewed 15 times
Farmer and Taylor formed a partnership with capital contributions of $235.000 and $285,000, respectively. Their partnership agreement calls for Farmer to receive a $77,000 per year salary allowance. The remaining income or loss is to be divided equally. If the net income for the current year is $177,000, then Farmer and Taylor's respective shares of income are: Multiple Choice $88.500 $88.500 $1306-40 $34,085 $127000, $50,000 $158.000 $19.000 $118,000 $59.000