The partnership agreement calls for a 15 interest on their


The capital accounts in the partnership of Frank and John are $57,500 and $87,500, respectively. The partnership agreement calls for a 15% interest on their capital accounts and the remaining sum to be shared equally. Net income for the year is $30,000. Show the division on net income.

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Accounting Basics: The partnership agreement calls for a 15 interest on their
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