Adanna and Trevor have formed a partnership without a partnership agreement. Trevor contributes twenty percent of the partnership capital and does sixty percent of the work. If the partnership earns a profit of $10,000 after its first year, how much of the profit can Adanna legally claim?

Question

Quizplus · Accepted Answer

In the absence of a partnership agreement, profits are shared equally among partners regardless of the amount of capital contribution or work done by each partner. Therefore, Adanna can legally claim $5,000, which is half of the $10,000 profit.

Adanna and Trevor Have Formed a Partnership Without a Partnership