Question: dividing partnership income tyler hawes and piper albright formed a...
Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $192,000 and $96,000, respectively. Determine their participation in the year's net income of $324,000 under each of the following independent assumptions: No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 12% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $45,000 and $63,000, respectively, and the balance divided equally. Allowance of interest at the rate of 12% on original investments, salary allowances of $45,000 and $63,000, respectively, and the remainder divided equally