Solved: The remainder is divided 20 to c 35 to e and 45 to e what, Accounting Basics

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The remainder is divided 20 to c 35 to e and 45 to e what

Question - C, D, and E are partners. C has $25,000 in her capital account. D has $35,000 in hers, and E has $45,000. Each gets a salary allowance of $15,000. C gets 10% interest on the beginning balance in the capital account, D gets 12%, and E gets 14%. The remainder is divided 20% to C, 35% to E, and 45% to E. What is the balance in the capital account at the end of the year if net income was $80,000?

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Accounting Basics: The remainder is divided 20 to c 35 to e and 45 to e what

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