Solution-What amount of income is credited to cox capital

What amount of income is credited to cox capital account

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Question - Cox, North, and Lee form a partnership. Cox contributes $186,000, North contributes $155,000, and Lee contributes $279,000. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $177,000 for its first year, what amount of income is credited to Cox's capital account?

Reference no: EM133087994

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What amount of income is credited to cox capital account

Reference no: EM133087994

Reference no: EM133087994

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