Ramer and Knox began a partnership by investing $90,000 and $135,000, respectively. During its first...
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Accounting
Ramer and Knox began a partnership by investing $90,000 and $135,000, respectively.
During its first year, the partnership earned $260,000. Prepare calculations showing how the $260,000 income is allocated under each separate plan for sharing income and loss. 1. The partners did not agree on a plan, and therefore share income equally.
Ramer
Knox
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