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Required information The Brussels, Russia, Colombia partnership agreement specifies that partnership net income be allocated as follows: Partner Brussels $30,000 Partner Russia $10,000 Partner Colombia
Required information The Brussels, Russia, Colombia partnership agreement specifies that partnership net income be allocated as follows: Partner Brussels $30,000 Partner Russia $10,000 Partner Colombia $40,000 Salary allowance Interest on average capital balances Remainder 10% 10% 10% 40% 40% 20% Average capital balances for the current year were $50,000 for Brussels, $30,000 for Russia, and $20,000 for Colombia. er to the information given. Assuming a current year net income of $150,000, what amount should be allocated to each partner? Partner Brussels $60,000 $59,000 $24,000 $58,000 Partner Russia $60,000 $37,000 $24,000 $38,000 Partner Colombia $30,000 $54,000 $12,000 $54,000 Multiple Choice O Option B Option C Option D Option A
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