In 2013, four persons formed a partnership. R. Allen contributed $5 000; P. Jones contributed $40 000; R. Jeffries contributed $75 000; and L. June contributed $8 000. The partnership agreement did not include any provisions designating how the profits and losses of the partnership would be split. During the first year of business, the partnership earned $89 600. No withdrawals were taken by the partners. At the end of the year, what was the balance in R. Allen's capital account?

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The Answer of In 2013, four persons formed a partnership. R. Allen contributed $5 000; P. Jones contributed $40 000; R. Jeffries contributed $75 000; and L. June contributed $8 000. The partnership agreement did not include any provisions designating how the profits and losses of the partnership would be split. During the first year of business, the partnership earned $89 600. No withdrawals were taken by the partners. At the end of the year, what was the balance in R. Allen's capital account?

In 2013, Four Persons Formed a Partnership