Jackson and campbell have capital balances of 100000 and

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Jackson and Campbell have capital balances of 100000 and 300,000 respectively. Jackson devotes full time and campbell one-half time to the business. Determine the division of $150,000 of net income under each of the following assumptions: (a) no agreement as to division of net income (b) in ratio to capital balances (c) in ratio of time devoted to business.

Reference no: EM13580036

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