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Aye, Bee and Cee formed a partnership called ABC Company. Their initial capital contributions are: A: $60,000 B: $50,000 C: $40,000 Their partnership agreement
Aye, Bee and Cee formed a partnership called ABC Company. Their initial capital contributions are: A: $60,000 B: $50,000 C: $40,000 Their partnership agreement called for the income (loss) to be shared based on the ratio of capital investment. If the partnership had income of $100,000 for the first year of operation, what amour of income would be credited to C's Capital account (round to the nearest dollar)? $40,000 $26,667 $33,333 $50,000
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