Dividing Partnership Net Income Han Lee and Monica Andrews formed a partnership, dividing income as follows: Annual salary allowance to Lee of $32,000. Interest of 4% on each partner's capital balance on January 1. Any remaining net income divided to Lee and Andrews, 2:1. Lee and Andrews had $80,000 and $150,000, respectively, in their January 1 capital balances. Net income for the year was $64,000. How much net income should be distributed to Lee and Andrews? Lee: $fill in the blank 1 Andrews: $fill in the blank 2

Han Lee and Monica Andrews Partnership

The net income that should be distributed to:

Lee = $50,400

Andrews = $13,600

Explanation:

a) Data and Calculations:

                                        Han Lee     Monica Andrews   Total

Capital accounts, Jan. 1  $80,000         $150,000        $230,000

Annual salary allowance  32,000                                      32,000

Interest on capital              3,200                6,000              9,200

Total allowances                                                               $41,200

Profit sharing                   15,200                 7,600            22,800

Net income                                                                      $64,000

Total distribution          $50,400             $13,600        $(64,000)

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer; commerce clearing house;