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Burns and Allan have formed a partnership and invested $30,000 and $50,000, respectively. They have agreed to share profits as follows:
1) Burns is to receive a "salary" of $30,000 and Allan is to receive a "salary" of $20,000.2) $25,000 is to be allocated according to their original capital contributions to the partnership.3) The remainder is to be allocated 3:4 respectivelyBurns and Allan have formed a partnership and invested $30,000 and $50,000, respectively.
Problem 1: Assuming that the business had a loss of $12,000, allocate the loss to Burns and Allan.
helena has the long-term capital gains and losses for 2013 65000 28 gain 53000 28 loss 28000 25 gain and 24000 01520
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