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Jones, the managing partner, receives a bonus equal to 25 percent of the business's profit. Each partner receives 17 percent interest on average capital investment.
- Jones, the managing partner, receives a bonus equal to 25 percent of the business's profit.
- Each partner receives 17 percent interest on average capital investment.
- Any residual profit or loss is divided equally.
The average capital investments for 2018 were as follows:
Jones$170,000King340,000Lane510,000
How much of the $76,000 partnership profit for 2018 should be assigned to each partner?
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