Exercise $11-5$ Profit allocation in a partnership LO$3$

Dallas and Weiss formed a partnership to manage rental properties, by investing $$171,000$ and $$209,000,$ respectively. During its first year, the partnership recorded profit of $$486,000.$

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.

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