Dividing Partnership Net Loss, assignment help
Dividing Partnership Net Loss
Megan West and Jon Sokolov formed a partnership in which the partnership agreement provided for salary allowances of $45,000 and $35,000, respectively.
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Determine the division of a $40,000 net loss for the current year, assuming remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies.
| Megan West | Jon Sokolov | Total | |
| Salary Allowance | $ | $ | $ |
| Remainder | $ | $ | |
| Net Loss | $ | $ | $ |
