1. In admitting new partners, assets contributed by partners are recorded at their replacement value. Why is that?

2. revenue per employee ratio. a. What does this ratio measure? b. What is the formula for calculating it?

3 . In their partnership agreement, Jane, Jill, and Bridget, have an income/loss distribution ratio of 5:3:2. How much would each of the three partners receive from an income of $120,000? a. Jane will get $ b. Jill will get ----$ c. Bridget will get.$