Question
The AB Partnership's capital balances are as follows: Partner A $175,000 Partner B $125,000. The allocate any net income as follows: Salaries Partner A $60,000
The AB Partnership's capital balances are as follows:
Partner A $175,000
Partner B $125,000.
The allocate any net income as follows:
Salaries Partner A $60,000 and Partner B $40,000, interest of their capital balances is 10% and they share ,all gains and losses equally.
Prepare a schedule to allocate their current net income of $175,000.
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Schedule allocation of current net income Pa...
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Vector Mechanics for Engineers Statics and Dynamics
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
8th Edition
73212229, 978-0073212227
