wheadon, davis, and singer formed a partnership with wheadon contributing 72,000, davis contributing 60,000 and...
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Accounting
wheadon, davis, and singer formed a partnership with wheadon contributing 72,000, davis contributing 60,000 and singer contributing 48,000. THeir partnership agreement called for the income(loss) division to be based on the ratio of capital investments. If the partnership had 105,000 for its first year of operation, what amount of income would be credited to Singers capital account?
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