Business, 10.01.2020 06:31 gabby0148

Lia chen and martin monroe formed a partnership, dividing income as follows: annual salary allowance to chen of $35,000.interest of 4% on each partnerâ€™s capital balance on january 1.any remaining net income divided to chen and monroe, 2: 1.chen and monroe had $90,000 and $140,000, respectively, in their january 1 capital balances. net income for the year was $70,000.required: how much net income should be distributed to chen and monroe?

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Lia chen and martin monroe formed a partnership, dividing income as follows: annual salary allowance...

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