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Question
Jefferson has a capital balance of $65,000 and devotes full time to a partnership. Washington has a capital balance of $45,000 and devotes half time to the partnership. If no other information is available regarding distributions, how should net income be divided?
a. 59% to Jefferson and 41% to Washington
b. 50% to Jefferson and 50% to Washington
c. 41% to Jefferson and 59% to Washington
d. 33% to Jefferson and 67% to Washington
Answer
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