E 16-2 Partnership income allocationBonus Arn, Bev, and Car are partners who share profits and losses 30:30:40,

Question:

E 16-2 Partnership income allocation—Bonus Arn, Bev, and Car are partners who share profits and losses 30:30:40, respectively, after Bev, who manages the partnership, receives a bonus of 10 percent of income, net of the bonus. Partnership income for the year is $198,000.

REQuIRED: Prepare a schedule to allocate partnership income to Arn, Bev, and Car.

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