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3. On January 1, Johnson invested $105,000 and Tyler invested $210,000 in a newly formed partnership. They agreed to salary allowances of $60,000 per year
3. On January 1, Johnson invested $105,000 and Tyler invested $210,000 in a newly formed partnership. They agreed to salary allowances of $60,000 per year to Johnson and $40,000 per year to Tyler, plus an interest allowance of 10% based on the partners' capital balances on January 1. Any remaining income (loss) is to be shared equally. When net income is $105,000 for the year, the allocation of income to the partners is a. $70,500 to Johnson; $61,000 to Tyler b. $52,500 to Johnson; $52,500 to Tyler C. $57,250 to Johnson; $47,750 to Tyler
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