=+2. Net income of $160,000 was earned in 2010. In addition, Jen Wilson received a salary allowance

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=+2. Net income of $160,000 was earned in 2010. In addition, Jen Wilson received a salary allowance of $30,000 for the year. The three partners agree to an income-sharing ratio equal to their capital balances after admitting Holden.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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