Problem
Current Attempt in Progress
The Carla Vista Partnership reported profit of $51600 for the year ended February 29, 2024. Salary allowances are $43,200 for H. Taylor and $24,000for S. White. Interest allowances of 5% are calculated on each partner's opening capital account balance. Capital account balances at March 1. 2023, were as follows: H. Taylor $69,000 (Cr.) and S. White $45,000(Cr).Any remainder is shared equally.
Calculate the division of profit to each partner.