Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
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Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 6.00

Phil LaRue and Russ

Phil LaRue and Russ Small have decided to form a partnership. They have agreed that LaRue is to invest $16,000 and that Small is to invest $24,000. LaRue is to devote full time to the business, and Small is to devote one-half time. The following plans for the division of income are being considered:

a. Equal division.

b. In the ratio of original investments.

c. In the ratio of time devoted to the business.

d. Interest of 10% on original investments and the remainder in the ratio of 3:2.

e. Interest of 10% on original investments, salary allowances of $30,000 to LaRu and $15,000 to Small, and the remainder equally.

f. Plan (e), except that LaRue is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the salary allowances.

Instructions

For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $135,000 and (2) net income of $60,000. Present the data in tabular form, using the following columnar headings:

 

$135,000

$60,000

Plan

LaRue

Small

LaRue

Small

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 09:07 PM My Price 6.00

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