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"Wheadon, Davis, and Singer formed a partnership with Wheadon contributing $60,000, Davis contributing $50,000 and Singer contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had income of $75,000 for its first year of operation, what amount of income (rounded to the nearest thousand) would be credited to Singer's capital account?"

Respuesta :

TomShelby

Answer:

Wheados 30,000

Davis 25,000

Signer 20,000

Explanation:

we will calculate each partner participation on the profits.

total capital:

60,000+50,000+40,000 = 150,000

now we calculate each partner income

[tex]net \: income \times \frac{capital}{total} [/tex]

we plug the values for each partner

Wheados:

[tex]75000 \times \frac{60000}{150000} = 30000[/tex]

Davis:

[tex]75000 \times \frac{50000}{150000} = 25000[/tex]

Signer

[tex]75000 \times \frac{40000}{150000} = 20000[/tex]

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