What is the balance of browning capital account

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Question - The net income of the David and Browning partnership is $452000. The partnership agreement specifies that David and Browning have a salary allowance of $122000 and $174000, respectively. The partnership agreement also specifies an interest allowance of 8% on capital balances at the beginning of the year. Each partner had a beginning capital balance of $290000. Any remaining net income or net loss is shared equally.

Required - What is the balance of Browning's Capital account at the end of the year after net income has been divided?

Reference no: EM133116425

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