having problem finding what percentage of the net income each partner will receive:
Justin Harris and Paul Berryhill started the HB partnership on January 1, 2011. The business acquired $50,000 cash from Harris and $81,500 from Berryhill. During 2011, the partnership earned $65,200 in cash revenues and paid $34,150 for cash expenses. Harris withdrew $3,300 cash from the business, and Berryhill withdrew $5,700 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business.
can anyone help?
Justin Harris and Paul Berryhill started the HB partnership on January 1, 2011. The business acquired $50,000 cash from Harris and $81,500 from Berryhill. During 2011, the partnership earned $65,200 in cash revenues and paid $34,150 for cash expenses. Harris withdrew $3,300 cash from the business, and Berryhill withdrew $5,700 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business.
can anyone help?