Question: C, D and E are partners. C has $25,000 in her capital account. D has $35,000 in hers and E has $45,000. Each get a
C, D and E are partners. C has $25,000 in her capital account. D has $35,000 in hers and E has $45,000. Each get a salary allowance of $15,000. C gets 10% interest on the beginning balance in the capital account, D gets 12% and E gets 14%. The remainder is divided 20% to C, 35% to D and 45% to E. what is the balance in the capital account at the end of the year if the net income was $80,000?
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