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Allison and Josh Are Partners in a Business Josh's Share of the Profit Is:
A)$32,000

Question 60

Multiple Choice

Allison and Josh are partners in a business.Allison's capital is $60,000 and Josh's capital is $100,000.Profits for the year are $80,000.They agree to share profits and losses as follows:
 Allison  Josh  Salaries $20,000$40,000 Interest on capital 10%10% Remaining profits and losses 3/52/5\begin{array} { | l | r | r | } \hline & { \text { Allison } } & { \text { Josh } } \\\hline \text { Salaries } & \$ 20,000 & \$ 40,000 \\\hline \text { Interest on capital } & 10 \% & 10 \% \\\hline \text { Remaining profits and losses } & 3 / 5 & 2 / 5 \\\hline\end{array}
Josh's share of the profit is:


A) $32,000.
B) $44,000.
C) ($8,000) .
D) None of the above

Correct Answer:

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