The partnership agreement for Owen Associates, a general partnership, provided that profits be paid to the partners
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partnership, provided that profits be paid to the partners in the
ratio of their financial contribution to the partnership. Moore
contributed $10,000, Noon contributed $30,000, and Kale contributed
$50,000. For the year ended December 31, 2008, Owen
had losses of $180,000. What amount of the losses should be
allocated to Kale?
$ 40,000
$ 60,000
$ 90,000
$100,000
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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