Ms. Manchester, Mr. Robertson, and Ms. Allison formed a partnership with a 4:2:1 partnership on profit. Mr. Robertson will receive what percentage of the profit at the end of the year?
A) 20%
B) 33%
C) 50%
D) 29%
Correct Answer:
Verified
Q74: Which of the following statements about partnerships
Q75: All of the following are correct EXCEPT
A)
Q76: A profit ratio based on capital balances
Q77: Ms. Drew, Mr. Fraser and Ms. Percy
Q78: The profit of the Miskell and Leblanc
Q80: Partner A receives $60,000 and Partner B
Q81: On January 1, 2013, the opening balances
Q82: The Statement of Partners' Equity explains
A) the
Q83: Crosby and Malkin sell to Staal a
Q84: The partners' drawings accounts are
A) reported on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents