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What will be the allocation of income to Dickens

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Reference no: EM132945923

Question - Partners Cantor and Dickens have capital balances in a partnership of $161000 and $234000, respectively. They agree to share profits and losses as follows:

 

Cantor

Dickens

As salaries

$41000

$49000

As interest on capital at the beginning of the year

10%

10%

Remaining profits or losses

50%

50%

If income for the year was $192000, what will be the allocation of income to Dickens?

Reference no: EM132945923

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