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What will be the allocation to dickens

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Question - Partners Gary and Dickens have capital balances in a partnership of $165000 and $239000, respectively. They agree to share profits and losses as follows:

 

Gary

Dickens

As salaries

$39000

$47600

As interest on capital at the beginning of the year

10%

10%

Remaining profits or losses

50%

50%

If net loss for the year was $8000, what will be the allocation to Dickens?

Reference no: EM133116437

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