assume that tom and jerry from a partnership with investment of 88000$ and120000$ separately. Determine the partnership in net income of 88000$ for the division of the partnership net income under the following conditions.
(1)
No agreement concerning division:
Division of partnership will be equal, thus,
Tom and Jerry will each get $4400.
(2)
According to ration of original investment:
Total Investment,
Tom will get:
Jerry will get:
(3)
Rate of 8% on original investment:
Tom,
Jerry,
Remainder divided in the ration 2:1
Remainder
For Tom:
For Jerry:
Total share:
Tom:
=$54613.33
Jerry:
=$33386.67
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