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Dividing Partnership Net Loss Lynn Carpenter and Matthew Fredrick formed a partnership in which the...

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Accounting

Dividing Partnership Net Loss Lynn Carpenter and Matthew Fredrick formed a partnership in which the partnership agreement provided for salary allowances of $52,000 and $46,000, respectively. Determine the division of a $26,000 net loss for the current year, assuming that remaining income or losses are shared equally by the two partners. Use th minus sign to indicate any deductions or deficiencies. Salary Allowance Remainder Net Loss Lynn Carpenter $ 52,000 $ Matthew Fredrick $ 46,000 Total 98,000
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Lynn Carpenter and Matthew Fredrick formed a partnership in which the partnership agreement provided for salary allowances of $52,000 and $46,000, respectively. Determine the division of a $26,000 net loss for the current year, assuming that remaining income or losses are shared equally by the two partners. Use minus sign to indicate any deductions or defieiencies

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