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B Lincoln, R

Question 30

Multiple Choice

B. Lincoln, R. Stallings, and J. Savoie formed a partnership. The partnership agreement specified that the profits and losses will be shared in a ratio of 3:1:1, respectively. At the end of the first year of operations, the partnership had $400 000 of revenue and $320 000 of expenses. The amount that will be credited to R. Stalling's capital account is:


A) $12 000.
B) $16 000.
C) $16 667.
D) $48 000.

Correct Answer:

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