'Assume all account balances are normal. "The partners made no investments during the year. $59,000...
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Accounting
'Assume all account balances are normal. "The partners made no investments during the year. $59,000 of the note payable is due in May 2024. Required: 1. Prepare calculations that show how the profit should be allocated to the partners assuming the partnership agreement states that profit/(losses) are to be shared by allowing a $109,000 per year salary allowance to Williams, a $169,000 per year salary allowance to Adams, and the remainder on a 3:2 ratio. (Leave no cell blank. Enter " 0 when the answer is zero.)
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