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 $125,000,what amount should be allocated to each partner?

A)Option A
B)Option B
C)Option C
D)Option D

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 $125,000,what amount should be allocated to each partner?

A)Option A 
B)Option B 
C)Option C 
D)Option D

Quizplus · Accepted Answer

The Answer is C

The SRT Partnership Agreement Specifies That Partnership Net Income Be