Business
Business, 07.04.2020 04:54, ani69

The partnership agreement of J. Hansen and D. Hernandez reflects differences in service and capital contributions as follows: (1) annual salary allowances of $30,000 to Hansen and $10,000 to Hernandez; (2) annual interest allowances of 10% of a partner's beginning-year capital balance, and (3) equal share of any remaining balance of income or loss. Both partners had beginning-year capital balances of $50,000. In the first year, the partnership makes $100,000. How much income would be allocated to Hansen?

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The partnership agreement of J. Hansen and D. Hernandez reflects differences in service and capital...

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