Brown jones and smith formed a partnership with brown

Reference no: EM13601199

Brown, Jones and Smith formed a partnership with Brown contributing $60,000, Jones contributing $50,000 and Smith contributing $40,000. Their partnership agreement called for earnings' division to be based on the ratio of capital investments. If the partnership had earnings of $74,000 for its first year of operation, what amount of earnings (rounded to the nearest dollar) would be credited to Smith's capital account?

Reference no: EM13601199

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