The Partnership Agreement for Wilson,Pickett & Nelson,a General Partnership,provided That

question 135

Multiple Choice

The partnership agreement for Wilson,Pickett & Nelson,a general partnership,provided that profits be shared between the partners in the ratio of their financial contributions to the partnership.Wilson contributed $100,000,Pickett contributed $50,000 and Nelson contributed $50,000.In the partnership's first year of operation,it incurred a loss of $110,000.What amount of the partnership's loss,rounded to the nearest dollar,should be absorbed by Nelson?

• A)$50,000
• B)$27,500
• C)$36,667
• D)$0
• E)$40,000

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