Table 12-13 Burns and Allan Have Formed a Partnership and Invested $40,000

question 47

Essay

Table 12-13
Burns and Allan have formed a partnership and invested $40,000 and $60,000, respectively. They have agreed to share profits as follows:
1) An annual allocation to Burns of $20,000 and to Allan of $10,000 based on service
2) The next $15,000 is to be allocated according to their original capital contributions to the partnership.
3) The remainder is to be allocated 5:4 respectively
-Refer to Table 12-13.Assuming that the business earns $35,000,allocate the income to Burns and Allan.

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Definitions:

Adventuresome 2-year-old

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Fearful

Being fearful involves experiencing apprehension or anxiety in response to perceived threats or danger.

Busy Street

A roadway characterized by high levels of vehicular and pedestrian traffic, often found in urban centers.

Secondary Reinforcer

A stimulus that has become rewarding through its association with a primary reinforcer.