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Business, 17.12.2019 20:31 ethan62211

Partners a and b have a profit and loss agreement with the following provisions: salaries of $40,000 and $45,000 for a and b, respectively; a bonus to a of 10% of net income after salaries and bonus; and interest of 15% on average capital balances of $40,000 and $60,000 for a and b, respectively. one-third of any remaining profits or losses are allocated to b and the balance to a.

if the partnership had net income of $52,000, how much should be allocated to partner a?

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Partners a and b have a profit and loss agreement with the following provisions: salaries of $40,00...
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