Allison and Josh are partners in a business. Allison's capital is $120,000 and Josh's capital is $120,000. Profits for the year are $80,000. They agree to share profits and losses as follows: Allison's share of the profits before paying salaries and interest on capital is: (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $48,000.
B) $70,500.
C) $40,000.
D) $11,400.

Question

Allison and Josh are partners in a business. Allison's capital is $120,000 and Josh's capital is $120,000. Profits for the year are $80,000. They agree to share profits and losses as follows:  Allison's share of the profits before paying salaries and interest on capital is: (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $48,000. 
B) $70,500. 
C) $40,000. 
D) $11,400.

Quizplus · Accepted Answer

The Answer of Allison and Josh are partners in a business. Allison's capital is $120,000 and Josh's capital is $120,000. Profits for the year are $80,000. They agree to share profits and losses as follows:  Allison's share of the profits before paying salaries and interest on capital is: (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $48,000. 
B) $70,500. 
C) $40,000. 
D) $11,400.

Allison and Josh Are Partners in a Business