Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows: If income for the year was $30,000, what will be the distribution of income to Acer?

Question

Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows:  If income for the year was $30,000, what will be the distribution of income to Acer?

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The Answer of Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows:  If income for the year was $30,000, what will be the distribution of income to Acer?

Partners Acer and Barr Have Capital Balances in a Partnership