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The partnership agreement of Jones, Kirig, and Lane provides for the .pdf

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The partnership agreement of Jones, Kirig, and Lane provides for the annual allocation of the business: profit or loss in the fofowing sequence: - Jones, the managing partner, recelves a bonus equal to 20 percent of the businesss profit. - Each parther recelves 12 percent interest on average capital investment - Any residual profit or loss is divided equally. The average capitel investments for 2021 were as foliows: The parthe ship earned $45.000 net income for 2021. Prepare a schedule showing how the 202t net income shauk be albcalest the parthers (Loss amounts should be indicated with a minus sign).

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The partnership agreement of Jones, Kirig, and Lane provides for the annual allocation of the business: profit or loss in the fofowing sequence: - Jones, the managing partner, recelves a bonus equal to 20 percent of the businesss profit. - Each parther recelves 12 percent interest on average capital investment - Any residual profit or loss is divided equally. The average capitel investments for 2021 were as foliows: The parthe ship earned $45.000 net income for 2021. Prepare a schedule showing how the 202t net income shauk be albcalest the parthers (Loss amounts should be indicated with a minus sign)

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  • 1. The partnership agreement of Jones, Kirig, and Lane provides for the annual allocation of the business: profit or loss in the fofowing sequence: - Jones, the managing partner, recelves a bonus equal to 20 percent of the businesss profit. - Each parther recelves 12 percent interest on average capital investment - Any residual profit or loss is divided equally. The average capitel investments for 2021 were as foliows: The parthe ship earned $45.000 net income for 2021. Prepare a schedule showing how the 202t net income shauk be albcalest the parthers (Loss amounts should be indicated with a minus sign)