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Required information {The following information applies to the questions displayed below.) Ramer and Knox began a partnership by investing $84,000 and $126,000, respectively. 3. The
Required information {The following information applies to the questions displayed below.) Ramer and Knox began a partnership by investing $84,000 and $126,000, respectively. 3. The partners agreed to share income by giving a $67,000 per year salary allowance to Ramer, a $41,000 per year salary allowance to Knox, 15% Interest on their initial capital investments, and the remaining balance shared equally.Net Income is $245,000. (Enter all allowances as positive values. Enter losses as negative values.) Ramer Knox Total 0 0 Net Income Salary allowances Interest allowances Total salary and interest Balance of income Balance allocated equally Balance of income Shares of the partners 0 S o $ 0
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