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Posted on Jul 09, 2024

The partnership agreement of Donald and Cohen provides for salary allowances of $89300 to Donald and $70600 to Cohen, with the remaining income or loss

The partnership agreement of Donald and Cohen provides for salary allowances of $89300 to Donald and $70600 to Cohen, with the remaining income or loss to be divided equally. During the year, Donald and Cohen each withdraw cash equal to 75% of their salary allowances. If partnership net income is $206000, Donalds equity in the partnership would

decrease the same as Cohens.

decrease more than Cohens.

increase more than Cohens.

increase the same as Cohens.

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