The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits or...
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Accounting
The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits or losses be shared between the partners in the ratio of their financial contributions to the partnership. Wilson contributed $65,000, Pickett contributed $39,000 and Nelson contributed $13,000. In the partnership's first year of operation, it incurred a loss of $184,500. What amount of the partnership's loss is allocated to Nelson? Multiple Choice $46,125 $92,250 $61,500 $20,500 $0
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