required information the following information applies to the questions displayed below. ramer and knox…

required information the following information applies to the questions displayed below. ramer and knox began a partnership by investing $82,000 and $123,000, respectively. during its first year, the partnership earned $240,000. prepare calculations showing how the $240,000 income is allocated under each separate plan for sharing income and loss. 1. the partners did not agree on a plan, and therefore share income equally. ramer knox

required information the following information applies to the questions displayed below. ramer and knox began a partnership by investing $82,000 and $123,000, respectively. during its first year, the partnership earned $240,000. prepare calculations showing how the $240,000 income is allocated under each separate plan for sharing income and loss. 1. the partners did not agree on a plan, and therefore share income equally. ramer knox

Answer

Explanation:

Step1: Divide total income equally

Since they share income equally and the total income is $240,000, we divide by 2. $240000\div2$

Answer:

Ramer: $120,000 Knox: $120,000