Debbie and Alex Formed a New Partnership $\$ 45,000$ ; Alex- $\$ 45,000$

question 166

Short Answer

Debbie and Alex formed a new partnership.The partnership agreement specified that income should be allocated in a 2-to-1 ratio, with Debbie receiving the larger portion.If revenue for the first year was $90,000 and expenses were $60,000, how much would be allocated to each partner? a. Debbie- $\$ 45,000$ ; Alex- $\$ 45,000$
b. Debbie- $\$ 20,000 ;$ Alex- $\$ 10,000$
c. Debbie- $\$ 60,000 ;$ Alex- $\$ 30,000$
d. Debbie- $\$ 40,000 ;$ Alex- $\$ 20,000$

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Definitions:

Budget

An estimate of income and expenditure for a set period of time, often used as a plan for managing finances.

Organizations

Entities composed of individuals and resources, structured to achieve specific goals through a collective effort.