L. Rodman, H. Saddler, and T. Schenk agreed to share earnings or losses according to the ratio

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L. Rodman, H. Saddler, and T. Schenk agreed to share earnings or losses according to the ratio of their investments at the beginning of the year ($ 30,000, $ 25,000, and $ 45,000, respectively). Calculate the partner shares under the following conditions:
(a) $ 27,000 net income;
(b) $ 24,000 net loss.
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College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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