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It's an MCQ Alban and Thompson formed a partnership with capital contributions with 1 point a fair value of $25,000 and $45,000, respectively. Their partnership

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Alban and Thompson formed a partnership with capital contributions with 1 point a fair value of $25,000 and $45,000, respectively. Their partnership agreement calls for Alban to receive a $12,000 annual salary alowance. Also, each partner Is to receive a share of earnings equal to a 10%% return on capital investments. The remaining income or loss is to be divided equally. If the profit for the year is $48.000. then Alban and Thompson's respective shares are: $14,000, $14,000 $12,000; $16,060 $20,000, 58.000 $16,500: 511 500 $29 000 $19.009 Other

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