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Prepare journal entries and computation to record division

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Problem - Prepare the journal entries and computation to record the division of profit using the following assumptions:

1. Profit is divided equally.

2. Profit is divided in the ratio of 3:2.

3. Profit is divided 45% to Adam and 55% to Andy.

4. Profit is divided according to the beginning capital ratio.

5. Profit is divided according to average capital ratio.

Reference no: EM132973016

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