Rice hepburn and dimarco formed a partnership with rice, Ask an Expert

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Rice, Hepburn, and DiMarco formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000 and DiMarco contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had income of $75,000 for its first year of operation, what amount of income (rounded to the nearest dollar) would be credited to DiMarco's capital account?

a) $20,000

b) $25,000

c) $30,000

d) $40,000

e) $75,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946049

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