Mick&Nick Co. reports net income of $24,000. Interest allowances are Mick $6,000 and Nick $5,000; salary allowances
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Mick&Nick Co. reports net income of $24,000. Interest allowances are Mick $6,000 and Nick $5,000; salary allowances are Mick $15,000 and Nick $10,000; the remainder is shared equally. Show the distribution of income on the income statement.
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Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
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