Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows: Acer Barr As salaries $10,000 $12,000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $50,000, what will be the distribution of income to Barr
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Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively....
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