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Check my work QS 12-4 Partnership income allocation LO P2 Ann Stolton and Susie Bright are partners in a business they started two years ago.
Check my work QS 12-4 Partnership income allocation LO P2 Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $13,700 and that Bright should receive a $21.400 salary allowance. Any remaining income or loss is to be shared equally. Book Determine each partner's share of the current year's net income of $54,200. (Enter all values as positive amounts.) Hint Print erences Total 54 200 Allocation of Partnership Income Stolton Bright Not Income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners
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