Maxwell is a partner and has annual salary of $30,00 per year but he actual draws...
Maxwell is a partner and has annual salary of $30,00 per year but he actual draws 3,000 per month the other partner is in the partnership has annual salary of $40,000 and draws 4,000 per month What is the total annual salary that should be used to allocate annual net income amoung the partners
a 14,000
b 50,000
c 70,000
d 84,00
Homework Answers
Answer: c 70,000
Explanation
Total annual salary to be used to allocate annual net income amoung the partners:
= Annual salary of Maxwell + Annual salary of other partner
= $30,00 + $40,000
= $ 70,000
Add Answer to:
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