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The Oriole Partnership reported profit of $52,800 for the year ended February 29,2024 . Salary allowances are $39,600 for H. Denner and $22,000 for S.
The Oriole Partnership reported profit of $52,800 for the year ended February 29,2024 . Salary allowances are $39,600 for H. Denner and $22,000 for S. Moore. Interest allowances of 5% are calculated on each partner's opening capital account balance. Capital account balances at March 1, 2023, were as follows: H. Denner $63,000 (Cr.) and S. Moore $41,000 (Cr.). Any remainder is shared equally. Calculate the division of profit to each partner. eTextbook and Media Attempts: 5 of 15 used
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