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Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of
Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $ and that Bright should receive a $ salary allowance. Any remaining income or loss is to be shared equally.
Determine each partner's share of the current year's net income of $
Note: Enter all allowances as positive values. Enter losses, if any, as negative values.
tableAllocation of Partnership IncomeStolton,Bright,TotalNet income,,,,Salary allowances,,:Balance of incomeBalance allocated equally,FBalance of incomeShares of the partners,,,,
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