Business, 26.03.2020 02:04 kimlyn58p0wyn0

Steve King and Chelsy Boxer formed a partnership, dividing income as follows: Annual salary allowance to Boxer of $125,670. Interest of 5% on each partner's capital balance on January 1. Any remaining net income divided to King and Boxer, 1:2. King and Boxer had $60,000 and $111,000, respectively, in their January 1 capital balances. Net income for the year was $213,000. How much is distributed to King and Boxer?

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Steve King and Chelsy Boxer formed a partnership, dividing income as follows: Annual salary allowanc...

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