MET Co. reports profit of $70,000 for the current year. Partner salary allowances are J. Moses $24,000;
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MET Co. reports profit of $70,000 for the current year. Partner salary allowances are J. Moses $24,000; T. Eaton $30,000; and M. Tung-Ching $5,000. The profit and loss ratio is 5:3:2. Calculate the division of profit to each partner.
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Profit Salary allowance J Moses T Eaton M TungChing Total MET CO Division ...View the full answer
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