Question 1. kramer and knox began a partnership by investing
Question 1. Kramer and Knox began a partnership by investing $60,000 and $80,000, respectively. During its first year, the partnership earened $160,000. Prepare calculations showing how the $160,000 income should de allocated to the partners under each of the following three separete plans for sharing income and loss: (1) the partners failed to agree on a method to share income ; (2) the partners agreed […]