The Ace and Deuce partnership

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.

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Ace and Deuce partnership firmAmountParticulareAceDeuceNet income for the year$200000Number of billable houre of each partner2000 hrs1500 hrshourly rate$20$30Total Bill ( billable…

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