Question
billy and sheehan are partners in bass co. their partnership... billy and sheehan are partners in bass co. their partnership agreement states that billy is
billy and sheehan are partners in bass co. their partnership...
billy and sheehan are partners in bass co. their partnership agreement states that billy is entitled to an annual salary of 100000 and a bonus of 10% of profit after salary but before bonus. the remainder is shared in the ratio of 7:2. sheehan's share in partnership profit for the year was 296000. how much was the partnership profit before billy's salary and bonus?
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
