Question

Bill and Bob share profits of their partnership in the ratio of 3​:1 respectively. If the net income of the firm is $ 26,000​, calculate​ Bill's share of net income. ​ (Do not round any intermediate​ calculations.

Answer 1

Answer: The required share of Bill from net income is $19500.

Step-by-step explanation: Given that Bill and Bob share profits of their partnership in the ratio of 3​:1 respectively and the net income of the firm is $26,000.

We are to find the Bill's share of net income.

Let 3x and 1x represents the shares of net income of Bill and Bob respectively.

Then, according to the given information, we have

`3x+1x=26000\\\\\Rightarrow 4x=26000\\\\\Rightarrow x=(26000)/(4)\\\\\Rightarrow x=6500.`

Therefore, Bill's share of net income is given by

`3*6500=19500.`

Thus, the required share of Bill from net income is $19500.