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Determine each partner share of the current year

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Reference no: EM131697619

Question - Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $15,000 and that Bright should receive a $20,000 salary allowance. Any remaining income or loss is to be shared equally.

Determine each partner's share of the current year's net income of $52,000. (Enter all values as positive amounts.)

Reference no: EM131697619

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