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Abram, Moore, and Baker have capital balances of $ 2 2 , 0 0 0 , $ 3 3 , 0 0 0 , and
Abram, Moore, and Baker have capital balances of $$ and $ respectively. The partners share profits and losses as follows:
a The first $ is divided based on the partners' capital balances.
b The next $ is based on service, shared equally by Abram and Baker. Moore does not receive a salary allowance.
c The remainder is divided equally.
Requirement Compute each partner's share of the $ net income for the year. Complete all answer boxes. For amounts that are $ make sure to enter in the appropriate column.
Net income loss
Capital allocation:
Abram
Moore
Baker
Salary allowance:
Abram
Moore
Baker
Total salary and capital allocation
Net income loss remaining for allocation
Remainder shared equally:
Abram
Moore
Baker
Total allocation
Net income loss remaining for allocation
Net income loss allocated to the partners
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