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Cathy and Jess formed a partnership trading as C & J Consulting Services. Their partnership agreement states that they agree to split any profit or
Cathy and Jess formed a partnership trading as C & J Consulting Services. Their partnership agreement states that they agree to split any profit or loss in the proportion of their contributions to the partnership. At 30 June 2019 the Partners Equity is as follows: Cathy: $58,000; Jess: $87,000. At 31 July C & J made a profit of $3,200. How would this profit share between Cathy and Jess?
a. | Cathy: $1,200; Jess: $2,000 | |
b. | Cathy: $1,920; Jess: $1,280 | |
c. | None of the options is correct | |
d. | Cathy: $1,600; Jess: $1,600 | |
e. | Cathy: $1,280; Jess: $1,920 |
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