The Ace and Deuce partnership has been created to operate a law firm The partners are attempting to devise a fair

Question

The Ace and Deuce partnership has been created to operate a law firm. The partners are attempting to devise a fair

system to allocate profits and losses. Ace plans to work more billable hours each year than Deuce. However, Deuce has more experience and can charge a higher hourly rate. Ace expects to invest more money in the business than Deuce.

Ace and Deuce partnership firm
Amount
Particulare
Ace
Deuce
Net income for the year
$200000
Number of billable houre of each partner
2000 hrs
1500 hrs
hourly rate
$20
$30
Total Bill ( billable…

Business