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Determine the division of the profit or loss
Course:- Accounting Basics
Reference No.:- EM131567751




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Problem -

A partnership is formed by Robert investing $150,050 and Linda investing $100,000. The partners are considering the following plans for dividing profits and losses:

(a) according to die ratio of their original investment

(b) paying Robert a salary of $60,000 and Linda a sailary of $50,000 and the balance on the basis of their original investment

(c) a $60,000 can salary to Robert, 12% interest on their original investments, and the balance equally

(d) share the profits equally.

Required

A. Determine the division of the profit or loss assuming a profit $200,000.

B. Determine the division of the profit or loss assuming a profit $150,000.

C. Determine the division of the profit or loss assuming a profit $10,000.




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