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Dallas and Weiss formed a partnership to manage rental properties, by investing $198,000 and $242,000, respectively. During its first year, the partnership recorded profit
Dallas and Weiss formed a partnership to manage rental properties, by investing $198,000 and $242,000, respectively. During its first year, the partnership recorded profit of $541,000. 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. Share to Dallas Share to Weiss Total
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