Duke and l duke operated a general partnership performing

Reference no: EM13586007

Duke and L. Duke operated a general partnership performing minor automobile repairs in their small rural town for nearly six years. During the past four moths the cousins have noticed a steady decline in customers thanks to the new Wal Mart that was built about ten miles away that offers one stop shopping for high quality low priced goods while you wait for your tire rotation, brake job, battery replacements, etc. All the Dukes have for their clients to look at is a field and a few festive chickens! As such, this month the Duke's industrious accountant R.P. Coltrane figured that they would have a $6.000 loss. B. Duke's Capital account shows $1,400 and L. Duke's Capital account shows $3,600 but their oral partnership agreement made no mention of how profits/losses would be divided.

How much of the loss will each of the Duke cousins bear?

Reference no: EM13586007

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