Rice,Hepburn,and DiMarco Formed a Partnership with Rice Contributing $50,000,Hepburn Contributing

Rice,Hepburn,and DiMarco formed a partnership with Rice contributing $50,000,Hepburn contributing $30,000,and DiMarco contributing $20,000.Their partnership agreement called for the earnings division to be based on the ratio of capital investments.If the partnership had a net income of $75,000 for its first year of operation,how much would be credited to DiMarco's capital account?

A) $10,000.
B) $15,000.
C) $20,000.
D) $30,000.
E) $75,000.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free