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Tanner and Teresa share income and losses in a 2:1 ratio after allowing for salaries of $42,000 to Tanner and $63,600 to Teresa. Net income
Tanner and Teresa share income and losses in a 2:1 ratio after allowing for salaries of $42,000 to Tanner and $63,600 to Teresa. Net income of the partnership is $129,000. Income should be divided as follows:
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Financial Accounting
Authors: Carl Warren
13th Edition
1133607616, 978-1133607618
