Rice hepburn and dimacro formed a partnership with rice, Ask an Expert

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Rice, Hepburn, and DiMacro formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000 and DiMacro contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had income of $75,000 for its first year of operation, what amount of income would be credited to DiMarco's captial account?

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Category:- Accounting Basics
Reference No.:- M9973188

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