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I believe the answer to this question, part (a)(i) to be incorrect. It gives the share of partnership losses for Ellington, Simone and Basie as (50,391), (33,773) and (27,736) respectively. I can’t see how they have arrived at these figures, as I believe the calculation in the answer to be incomplete.
I have the losses at (46,855), (34,167) and (30,879) respectively.
Can anyone shed any light on this for me please?
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