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kumpel [21]
3 years ago
13

X and Y are in partnership with capital contributions of $50000 and $30000 respectively.

Mathematics
1 answer:
Tamiku [17]3 years ago
5 0

Answer:

The correct answer is B. $13,875.

Step-by-step explanation:

Since X and Y are in partnership with capital contributions of $ 50000 and $ 30000 respectively, and the partnership agreement provides that profits are to be shared in proportion to capital contributions and each partner is entitled to 10% interest on capital, and profit for the year was $ 37000, to determine what was the total amount credited to Y’s current account at the end of the year the following calculation must be performed:

50,000 + 30,000 = 80,000

80,000 = 100

30,000 = X

30,000 x 100 / 80,000 = X

37.5 = X

37,000 x 0.375 = X

13.875 = X

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