The SRT partnership agreement specifies that partnership net income be allocated as follows:
Average capital balances for the current year were $60,000 for S, $50,000 for R, and $40,000 for T.
-Refer to the information given.Assuming a current year net income of $45,000,what amount should be allocated to each partner?

Question

The SRT partnership agreement specifies that partnership net income be allocated as follows:
  Average capital balances for the current year were $60,000 for S, $50,000 for R, and $40,000 for T.
-Refer to the information given.Assuming a current year net income of $45,000,what amount should be allocated to each partner?

Quizplus · Accepted Answer

The Answer of The SRT partnership agreement specifies that partnership net income be allocated as follows:
  Average capital balances for the current year were $60,000 for S, $50,000 for R, and $40,000 for T.
-Refer to the information given.Assuming a current year net income of $45,000,what amount should be allocated to each partner?

The SRT Partnership Agreement Specifies That Partnership Net Income Be