Charlie and Lucy share profits and losses in a ratio of 2:3, respectively, after guaranteed...
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Accounting
Charlie and Lucy share profits and losses in a ratio of : respectively, after guaranteed payments salary allowances interest allowances and bonus allocations. Charlie and Lucy receive guaranteed payments salary allowances of $ and $ respectively, and both partners receive interest based upon the balance in their capital accounts on January Total net income for is $ What amount of net income is allocated for to each of the partners, Charlie and Lucy's?" January capital balances Charlie$ and Lucy$
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