The partnership contract of Ali & Yousif LLP provided for salaries of $ 4 5 , 0

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Question:

The partnership contract of Ali & Yousif LLP provided for salaries of $

45, 000

to Ali and $

35, 000

to Yousif, with any remaining income or loss divided equally. During

2005,

pre

-

salaries income of Ali & Yousif LLP was $

100, 000 .

During

2020,

Calculate Ali's share of net income.

Related Book For answer-question

Advanced Financial Accounting

ISBN: 978-0078025624

10th edition

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

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Posted Date: Jan 24, 2024 03:22 AM

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The partnership contract of Ali & Yousif LLP provided for salaries of $ 4 5 , 0

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Advanced Financial Accounting

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