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How much money would the second partner receive

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Reference no: EM132981839

Question - Two partners agree to share profits in the following arrangement:

1) Salary of $40,000 for each.

2) Interest at 10 percent on beginning capital balances.

3) The remainder in a 50-50 ratio.

The first partner contributed $100,000 in beginning capital, and the second contributed $50,000. How much money would the second partner receive from total profits of $120,000?

Reference no: EM132981839

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