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How much of the profit is allocated to Ms Lee

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Question - A partnership has two partners, Ms. Lee and Mr. Wan, and profit of $80,000 for the year. Profit is allocated using salaries and then 50% of the remainder to each partner. Ms. Lee's salary is $25,000; Mr. Wan's salary is $20,000. How much of the profit is allocated to Ms. Lee?

Reference no: EM133041086

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