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Partners Acer and Barr Have Capital Balances in a Partnership

Question 17

Multiple Choice

Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows: Partners Acer and Barr have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows: If income for the year was $50,000, what will be the distribution of income to Barr? A) $23,000 B) $27,000 C) $20,000 D) $10,000 If income for the year was $50,000, what will be the distribution of income to Barr?


A) $23,000
B) $27,000
C) $20,000
D) $10,000

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