Business, 09.09.2019 21:30 edjiejwi

23. cleary, wasser, and nolan formed a partnership on january 1, 2012, with investments of $100,000, $150,000, and $200,000, respectively. for division of income, they agreed to (1) interest of 10% of the beginning capital balance each year, (2) annual compensation of $10,000 to wasser, and (3) sharing the remainder of the income or loss in a ratio of 20% for cleary, and 40% each for wasser and nolan. net income was $150,000 in 2012 and $180,000 in 2013. each partner withdrew $1,000 for personal use every month during 2012 and 2013.
what was wasser's total share of net income for 2012?
a. $63,000.
b. $53,000.
c. $58,000.
d. $29,000.
e. $51,000.

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23. cleary, wasser, and nolan formed a partnership on january 1, 2012, with investments of $100,000,...

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