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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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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

Josh's share of the profit is:
A) $44,000.
B) $32,000.
C) ($8,000).
D) None of the above
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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6 years ago
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