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Home Q & A Board Other Fields Homework Help Business Accounting
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Fast2F Fast2F
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6 years ago
Allison and Josh are partners in a business. Allison's capital is $60,000 and Josh's capital is $100,000. Profits for the year are $80,000. They agree to share profits and losses as follows:

   Allison   Josh
Salaries   $20,000    $40,000
Interest on capital   10%   10%
Remaining profits and losses   3/5   2/5

Allison's share of the profits before paying salaries and interest on capital is:
A) $48,000.
B) $22,000.
C) $28,400.
D) $28,000.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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keytwokeytwo
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6 years ago
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Fast2F Author
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6 years ago
Thank you, thank you, thank you!
Tim0301
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Yesterday
Thanks
shelbycox
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2 hours ago
Brilliant ツ
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