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The parthership agreement of Jones, King, and Lane provides for the a.pdf

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The parthership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following " sequence: - Jones, the managing parthec, recelves a bonus equal to 20 percent of the business's profit - Each partner recelves 11 percent interest on average capital investment. - Any residual profit or loss is divided equally. The average capital investments for 2021 were as follows: The partnership earned $90,000 net income for 2021 . Prepare a schedule showing how the 2021 net income should be allocated to the partners. (Loss amounts should be indicated with a minus sign.).

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The parthership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following " sequence: - Jones, the managing parthec, recelves a bonus equal to 20 percent of the business's profit - Each partner recelves 11 percent interest on average capital investment. - Any residual profit or loss is divided equally. The average capital investments for 2021 were as follows: The partnership earned $90,000 net income for 2021 . Prepare a schedule showing how the 2021 net income should be allocated to the partners. (Loss amounts should be indicated with a minus sign.)

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