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John, David and Cathy formed a partnership. Their partnership is called JDC Partnership Pty Ltd. The invested as follows: John:

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John, David and Cathy formed a partnership. Their partnership is called JDC Partnership Pty Ltd. The invested as follows:

John: $66,500

David: $95,000

Cathy: $10,000

 During the first year of the reporting period (1 July 2012 - 30 June 2013), their company made $70,000 profit.

How each partner will receive  if 

  1. Divide the profit equally
  2. Divide the profit in proportionate to their investment 

Expert Answer:

Answer rating: 100% (QA)

Let s calculate how each partner will receive the profit under the two scenarios 1 Dividing View the full answer


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Related Book For  answer-question
Smith and Roberson Business Law

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Question Details
Chapter # 37
Section: Cases
Problem: 3
Posted Date: September 17, 2023 00:33:45
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