Wheadon,Davis,and Singer Formed a Partnership with Wheadon Contributing $60,000,Davis Contributing

question 83

Multiple Choice

Wheadon,Davis,and Singer formed a partnership with Wheadon contributing $60,000,Davis contributing $50,000 and Singer 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 thousand) would be credited to Wheadon's capital account?

• A)$20,000.
• B)$25,000.
• C)$30,000.
• D)$40,000.
• E)$75,000.

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