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Partners Kevin and Dickens have capital balances in a partnership of $157000 and $249000, respectively. They agree to share profits and losses as follows: Kevin
Partners Kevin and Dickens have capital balances in a partnership of $157000 and $249000, respectively. They agree to share profits and losses as follows: Kevin Dickens As salaries $40600 $48000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $119000, what will be the allocation of income to Kevin? 00 $40600 $56300 O $51200 $64600
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