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Business, 26.12.2020 01:00 yami4458

Emmett and Sierra formed a partnership dividing income as follows: 1. Annual salary allowance to Emmett of $48,000. 2. Interest of 8% on each partner's capital balance on January 1. 3. Any remaining net income divided equally. Emmett and Sierra had $25,000 and $140,000, respectively, in their January 1 capital balances. Net income for the year was $200,000. How much of the $200,000 net income should be distributed to Emmett?

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Emmett and Sierra formed a partnership dividing income as follows: 1. Annual salary allowance to Emm...
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