What is the balance of nance capital at rhe end of the year

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Reference no: EM13144057

the net income of the Rice and Nance is $180,000.The partnership agreement specifies that rice and nance have asalary allowance of $48,000 and $72,000, respectively.The parnership agreement also specifies an interst allowance of 10% on caoital balances at the beginnig of the year .Each partner had abeginning capital balance of $120,000. Any remaining net income or net loss is shared equally.What is the balance of Nance's capital at rhe end of the year after net income has been distributed ?

Reference no: EM13144057

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