Laverne and Shirley started a partnership.Laverne invested $4,000 in the business and Shirley invested $6,000.The partnership agreement stipulated that profits would be divided as follows.Each partner would receive a 10% return on their invested capital with the remaining income being distributed equally between the two partners.Assuming that the partnership earned $4,500 during an accounting period,the amount of income assigned to the two partners would be:

Question

Quizplus · Accepted Answer

The Answer of Laverne and Shirley started a partnership.Laverne invested $4,000 in the business and Shirley invested $6,000.The partnership agreement stipulated that profits would be divided as follows.Each partner would receive a 10% return on their invested capital with the remaining income being distributed equally between the two partners.Assuming that the partnership earned $4,500 during an accounting period,the amount of income assigned to the two partners would be:

Laverne and Shirley Started a Partnership