The APB partnership agreement specifies that partnership net income be allocated as follows: Average capital balances for the current year were $50,000 for A, $30,000 for P, and $20,000 for B.
-Refer to the information given. Assuming a current year net income of $150,000, what amount should be allocated to each partner?
A) Option A
B) Option B
C) Option C
D) Option D

Question

The APB partnership agreement specifies that partnership net income be allocated as follows:  Average capital balances for the current year were $50,000 for A, $30,000 for P, and $20,000 for B.
-Refer to the information given. Assuming a current year net income of $150,000, what amount should be allocated to each partner? 
A) Option A 
B) Option B 
C) Option C 
D) Option D

Quizplus · Accepted Answer

The Answer is B

The APB Partnership Agreement Specifies That Partnership Net Income Be