Partners John and Dickens have capital balances in a partnership of $154000 and $238000, respectively....
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Accounting
Partners John and Dickens have capital balances in a partnership of $154000 and $238000, respectively. They agree to share profits and losses as follows:
John
Dickens
As salaries
$39300
$47100
As interest on capital at the beginning of the year
10%
10%
Remaining profits or losses
50%
50%
If income for the year was $111000, what will be the allocation of income to John?
$62800
$39200
$47400
$54700
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