Table 12-3
Mariah and Brittney have formed a partnership and invested $140,000 and $160,000, respectively. They have agreed to share profits as follows:
1) The first $30,000 is to be allocated according to their original capital contributions to the partnership.
2) Mariah is to receive $40,000 and Brittney is to receive $45,000 for service.
3) The remainder is to be allocated 5:3, respectively.
-Refer to Table 12-3.Assuming the business incurs a net loss of $36,000,Brittney's capital account will be:

Question

Table 12-3
Mariah and Brittney have formed a partnership and invested $140,000 and $160,000, respectively. They have agreed to share profits as follows:
1) The first $30,000 is to be allocated according to their original capital contributions to the partnership. 
2) Mariah is to receive $40,000 and Brittney is to receive $45,000 for service.
3) The remainder is to be allocated 5:3, respectively.
-Refer to Table 12-3.Assuming the business incurs a net loss of $36,000,Brittney's capital account will be:

Quizplus · Accepted Answer

The Answer of Table 12-3
Mariah and Brittney have formed a partnership and invested $140,000 and $160,000, respectively. They have agreed to share profits as follows:
1) The first $30,000 is to be allocated according to their original capital contributions to the partnership. 
2) Mariah is to receive $40,000 and Brittney is to receive $45,000 for service.
3) The remainder is to be allocated 5:3, respectively.
-Refer to Table 12-3.Assuming the business incurs a net loss of $36,000,Brittney's capital account will be:

Table 12-3 Mariah and Brittney Have Formed a Partnership and Invested $140,000