Frazier and Roz are partners. Frazier contributes $30,000 to the partnership, and Roz contributes $10,000.

39. Frazier and Roz are partners. Frazier contributes $30,000 to the partnership, and Roz contributes $10,000. They agree that Frazier will assume 70 percent of partnership losses and that Roz will assume 30 percent. They make no agreement about how to share profits. The partnership has a profit of $60,000 in its first year. How much of the profits is Frazier entitled to receive?

QuestionFrazier and Roz are partners. Frazier contributes $30,000 to the partnership, and Roz contributes $10,000. They agree that Frazier will assume 70 percent of partnership losses and that Roz…