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Fred and Barney started a partnership. Fred invested $12,500 in the business and Barney invested $21,000. The partnership agreement stipulated that profits would be
Fred and Barney started a partnership. Fred invested $12,500 in the business and Barney invested $21,000. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 14% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $29,000 during an accounting period, the amount of income assigned to the two partners would be. Barney $9,215 $ 16,500 A. Fred $ 10,405 B. $ 12,500 C. $ 14,500 $ 14,500 D. $ 13,905 $ 15,095 Choice A Choice B Choice C Choice D
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