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Question 4 (12 points) Sally and Andy are partners in Just Hats, LLC.Andy works in the business for an agreed salary draw of $4,000 per
Question 4 (12 points)
Sally and Andy are partners in Just Hats, LLC.Andy works in the business for an agreed salary draw of $4,000 per month.Sally has invested $200,000 in the business and Andy invested $100,000.THe net income of the business is $168,000 for the year.Income is distributed based on the investment of each partner after allocation for salary.How much net income is allocated to Sally?Question 4 (12 points)
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Intermediate Accounting Volume 1 Chapters 1 To 12
Authors: J. David Spiceland, James F. Sepe, Lawrence A. Tomassini, Mark W. Nelson
5th Edition
0073324655, 9780073324654
