Mathew and Melissa share income and losses in a 2:1 ratio after allowing for salaries of...
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Mathew and Melissa share income and losses in a 2:1 ratio after allowing for salaries of $84,000 to Mathew and $120,000 to Melissa. Net income of the partnership is $264,000. Income should be divided as follows: Mathew, $124,000; Melissa, $140,000 Mathew, $116,000; Melissa, $148,000 Mathew, $150,000; Melissa, $114,000 Mathew, $114,000; Melissa, $150,000 Mathew and Melissa share income and losses in a 2:1 ratio after allowing for salaries of $84,000 to Mathew and $120,000 to Melissa. Net income of the partnership is $264,000. Income should be divided as follows: Mathew, $124,000; Melissa, $140,000 Mathew, $116,000; Melissa, $148,000 Mathew, $150,000; Melissa, $114,000 Mathew, $114,000; Melissa, $150,000
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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