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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 divided
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: A. B. C. D. Fred Barney $ 10,405 $ 9,215 $ 12,500 $ 16,500 $ 14,500 $ 14,500 $ 13,905 $ 15,095 Multiple Choice o Choice B Choice A Choice D Choice C
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