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Assume that the articles of partnership specify that net income is to be divided in the ratio of capital investments. Partner As capital account has
Assume that the articles of partnership specify that net income is to be divided in the ratio of capital investments. Partner As capital account has a balance of $80,000, and Partner Bs capital account has a balance of $70,000. If the net income for the current year is $40,000, Partner As distributive share will be a. $18,667 b. $21,333 c. $80,000 d. $150,000
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