Radley and Smithers share income and losses in a 2:1 ratio after allowing for salaries to Radley of $24,414 and $30,821 to Smithers. Net income for the partnership is $43,590. Income should be divided as follows:
Xavier and Yolonda have original investments of $47,361 and $110,559 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,328 and $29,177 respectively, and the remainder equally. How much of the net income of $99,420 is allocated to Xavier?
X and Y have original investments of $49,693 and $104,479 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $33,032 and $29,137 respectively, and the remainder equally. How much of the net income of $98,208 is allocated to Y?
Stan and Ollie are partners who share income in the ratio of 2:3 and have capital balances of $51,197 and $55,596 respectively. Ray is admitted to the partnership and is given a 40% interest by investing $26,276. What is Ollie's capital balance after admitting Ray?