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Calculate jamie interest for the period

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Question - Jamie and Tracy form a partnership in which they share the profits in the ratio 3:5 respectively. Jamie has a current capital of 18,000 and Tracy has a current capital of 28 000. Each partner earns 2% interest on their current capital salary of 2,000. In the current year the company lost 24,000.

1. Calculate Jamie interest for the period?

2. Find Jamie share of the allocated net income/loss?

Reference no: EM133164393

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