Allocation of profit to partners Assume that there are three partners in a partnership, A, B, and C. Partner C provides services to the partnership and is entitled to a salary of $200,000. Assume that the partnership revenues less expenses (other than salary to Partner C) amount is $500,000. Finally, assume that the Partnership Agreement provides for a sharing ratio of 40%/40%/20% for Partners A, B, and C, respectively. Prepare a schedule for the allocation of profit to the partners.

Fill in for all the ? Symbols:

	A	B	C	Total Allocation	Remaining
Allocation of Profit to Partners:
Excess of revenues over expenses					?
Sal			?	?	?
Allocation of residual profit	?	?	?	?	?
Total allocation	?	?	?	?