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The partnership measurement of Dan, Helen, and Brandie provides that profits are to be divided as follows: Brandie receives a salary of $15.000 and Helen
The partnership measurement of Dan, Helen, and Brandie provides that profits are to be divided as follows: Brandie receives a salary of $15.000 and Helen receives a salary of $9.000 for time spent in the business All partners receive 10% interest on average capital balances. Remaining profits and losses are divided equally among the three partners On January 1. 2010 the capital balances were Dan $120.000. Helen $85,000, and Brandie $75,000. Dan invested an additional $5,000 on July 1 and withdrew $7 000 on October 1. Prepare a schedule to allocate partnership net income of $25.000 for 2010
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