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amm1812
3 years ago
9

Blake and Matthew are partners who agree that Blake will receive a $103,000 salary allowance and that any remaining income or lo

ss will be shared equally. If Matthew’s capital account is credited for $3,000 as his share of the net income, how much net income did the partnership earn?
Business
1 answer:
Sedaia [141]3 years ago
7 0

Answer:

total net income = $109,000

Explanation:

given data

Blake receive = $103,000

Matthew capital account is credited = $3,000

solution

we know that both partner get equal part in  remaining loss or income

so here Blake get $3,000 as share of the net income

so that here net income for the period, that will Blake's salary allowance +  amount shared in both persons of net income

as that

total net income = $103,000 + $3,000 +$3,000

total net income = $109,000

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