Business, 13.07.2020 19:01 samdoesmath6352

Christie and Jergens formed a partnership with capital contributions of $390,000 and $490,000, respectively. Their partnership agreement calls for Christie to receive a $69,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital investments. The remaining income or loss is to be divided equally. If the net income for the current year is $163,000, then Christie and Jergens's respective shares are:

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Christie and Jergens formed a partnership with capital contributions of $390,000 and $490,000, respe...