Business, 11.06.2020 21:57 ggdvj9gggsc

Christie and Jergens formed a partnership with capital contributions of $250,000 and $350,000, respectively. Their partnership agreement calls for Christie to receive a $55,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital investments. The remaining income or loss is to be divided equally. If the net income for the current year is $119,000, then Christie and Jergens's respective shares are:

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Christie and Jergens formed a partnership with capital contributions of $250,000 and $350,000, respe...

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