Given the ABC partnership with Capital balances of $100,000, $200,000, and $200,

Question

Given the ABC partnership with Capital balances of $100,000, $200,000, and $200,000 respectively, determine how the partnership would divide up profits of $120,000 under each of the following independent assumptions. Please show Accounting Work in a T diagram.

1. No Agreement                                                                  A                    B                    C

2. Interest of 12% on investment

and the remainder divided equally

3. In the ratio of capital investments

4. A salary of $100,000 to B

and the remainder in the ratio of 1:2:2

Explanation / Answer

Particulras

A

B

C

1]No agreement

Particulras

A

B

C

1]No agreement

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