Partners Mark and Dickens have capital balances in a partnership of $158000 and $233000, respectively. They...

 

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Partners Mark and Dickens have capital balances in a partnership of $158000 and $233000, respectively. They agree to share profits and losses as follows: Mark Dickens As salaries $40700 $49000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $210000, what will be the allocation of income to Dickens? Partners Mark and Dickens have capital balances in a partnership of $158000 and $233000, respectively. They agree to share profits and losses as follows: Mark Dickens As salaries $40700 $49000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If income for the year was $210000, what will be the allocation of income to Dickens?

Answer rating: 100% (QA)

To calculate the allocation of income to Dickens we need to follow the agreedupon sharing ratios for ... View the full answer