Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%.

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Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%. Indicate the division of net income to each partner, and prepare the entry to distribute the net income.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 13, 2011 08:47 AM

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Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%.

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Accounting Principles

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