Question

Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70,100 and Alex is allowed a salary allowance of $34,000. If the partnership had net income of $71,000 for 2020, Alex’s share of the income would be A $44,400. B $7,400. C $37,000. D $27,380.

Name: partners eli and alex have agreed to share profits and losses in an 8020 ratio respectively after eli is allowed a salary allowance of 70100 and alex is allowed a salary allowance of 34000 i 87224
Uploaded: 2022-05-18T17:10:47-08:00
Duration: 1 min 17 s
Channel: Niamat Khuda
Description: partners eli and alex have agreed to share profits and losses in an 8020 ratio respectively after eli is allowed a salary allowance of 70100 and alex is allowed a salary allowance of 34000 i 87224

          Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70,100 and Alex is allowed a salary allowance of $34,000. If the partnership had net income of $71,000 for 2020, Alex’s share of the income would be A $44,400. B $7,400. C $37,000. D $27,380.

Added by Rodrigo W.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Niamat Khuda

05/18/2022

Step 1

Eli's salary allowance: $70,100 Alex's salary allowance: $34,000 Total salary allowances = $70,100 + $34,000 = $104,100 Show more…

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Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70,100 and Alex is allowed a salary allowance of $34,000. If the partnership had net income of $71,000 for 2020, Alex’s share of the income would be A $44,400. B $7,400. C $37,000. D $27,380.