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  3. the xyz partnership recorded a profit of $540000.

The XYZ partnership recorded a profit of $540000. a) if the three partners had nothing...

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Accounting

The XYZ partnership recorded a profit of $540000.

a) if the three partners had nothing in their partnership agreement on profit sharing how would profits be distributed?

b) If the partners agreed on a $144000 salary allowance for each partner and the remaining balance divided 3:2:1, calculate the amount owed to each partner

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