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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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6 years ago
Applying the profit and loss ratio method, compute Taylor and Timmy's share of net income if Taylor invested $200,000 and Timmy invested $800,000 and the profit and loss ratio is 3:2. Net income was $75,000.
A) Taylor, $45,000; Timmy, $30,000
B) Taylor, $15,000; Timmy, $60,000
C) Taylor, $37,500; Timmy, $37,500
D) None of these answers is correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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6 years ago
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majestico Author
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6 years ago
You make an excellent tutor!
nadiia
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Correct Slight Smile TY
jmelchor77
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This site is awesome
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