Exercise 2. David and Rose have decided to form a partnership. They have agreed that...
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Accounting
Exercise 2. David and Rose have decided to form a partnership. They have agreed that David will invest $140,000 and Rose $210,000. David should dispose of his full time to the business, Rose should dispose of half of her time. The following plans for the division of profits have been considered: a. Equal division b. In the ratio of original investments c. In the ratio of time available for business
Instructions: For each plan, determine the net income division by assuming the following: 1. Net income $225,000.00 2. Net income $150,000.00
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