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    Exam 12: Accounting for Partnerships and Limited Liability Companies
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    If the Articles of Partnership Provide for Annual Salary Allowances
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If the Articles of Partnership Provide for Annual Salary Allowances

Question 57

Question 57

True/False

If the articles of partnership provide for annual salary allowances of $36,000 and $18,000 to X and Y, respectively, and net income is $30,000, X's share of net income is $20,000.

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