Business, 19.07.2021 22:20 holman9308

Steve King and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to King of $128,250. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to King and Stevens, 1:2. King and Stevens had $75,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $225,000. How much is distributed to King and Stevens

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Steve King and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowa...

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