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Dallas and Weiss formed a partnership to manage rental properties, by investing ( $ 189,000 ) and ( $ 231,000 ), respectively. During its first

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Dallas and Weiss formed a partnership to manage rental properties, by investing \\( \\$ 189,000 \\) and \\( \\$ 231,000 \\), respectively. During its first year, the partnership recorded profit of \\( \\$ 524,000 \\). Required: Prepare calculations showing how the profit should be allocated to the partners under each of the following plans for sharing profit and losses: a. The partners failed to agree on a method of sharing profit. b. The partners agreed to share profits and losses in proportion to their initial investiments. c. The partners agreed to share profit by allowing a \\( \\$ 157,000 \\) per year salary allowance to Dallas, an \\( \\$ 87,000 \\) per year salary onswer is zero.)

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