Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time...
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Accounting
Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time and Campbell one-half time to the business.
Determine the division of $150,000 of net income under each of the following assumptions:
a. No agreement as to division of net income.
b. In ratio of capital balances.
c. In ratio of time devoted to business
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