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How much of the profit is credited to Apple

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Reference no: EM132713254

Problem 1: The Adams and Apple partnership has a ?450,000 net income during the year. Adams gets credit for salary of ?120,000. How much of the profit is credited to Apple if they share profits in a ratio of 40:60. respectively?

a. ?120,000

b. ?198,000

c. ?270,000

d. ?318,000

Reference no: EM132713254

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