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A partnership agreement provides that half of the annual profit be distributed in proportion to each partners investment in the partnership, and that the other
A partnership agreement provides that half of the annual profit be distributed in proportion to each partners investment in the partnership, and that the other half be distributed in proportion to the total number of hours that each partner worked in the business during the year. How should the most recent years profit of $84,780 be allocated if the amounts invested by Huey, Dewey, and Louie are $70,000, $30,000, and $45,000, and their hours of work for the year were 425, 1680, and 1440, respectively?
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