Question

: Marjorie is a 50% partner in Callie's Candies. Under the terms of the partnership agreement, she is to receive 50% of partnership income, but no less than $30,000. If the Partnership's net income for the year is 90,000 what amount of income does Marjorie earn from this partnership? ?

Answer 1

$45,000

Explanation:

Income = percentage of income she receives x income

50% x 90,000

0.5 x 90,000 = 45,000