Partners Cantor and Dickens have capital balances in a partnership of $159000 and $234000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $40600 $48300 As...


Question-based on, "income for year".



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Partners Cantor and Dickens have capital balances in a partnership of $159000 and $234000,<br>respectively. They agree to share profits and losses as follows:<br>Cantor Dickens<br>As salaries<br>$40600 $48300<br>As interest on capital at the beginning of the year<br>10%<br>10%<br>Remaining profits or losses<br>50%<br>50%<br>If income for the year was $203000, what will be the allocation of income to Dickens?<br>O $93900<br>$39300<br>$109100<br>O $78600<br>

Extracted text: Partners Cantor and Dickens have capital balances in a partnership of $159000 and $234000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $40600 $48300 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $203000, what will be the allocation of income to Dickens? O $93900 $39300 $109100 O $78600

Jun 11, 2022
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