Partners A and B have a profit and loss agreement with the following provisions: salaries of $40,000 and $45,000 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 15% on average capital balances of $40,000 and $60,000 for A and B, respectively. One-third of any remaining profits or losses are allocated to B and the balance to A. If the partnership had net income of $52,000, how much should be allowed to Partner A? $14,000 $30,000 $38,000 None of the above Partners Acker, Becker & Checker have the following profit and loss agreement: Acker & Becker receive salaries $40,000 each Checker gets a bonus of 10 percent of net income after salaries and bonus (the bonus is zero if salaries exhaust net income) Remaining profits are shared by Acker, Becker & Checker in the following ratios respectively: 3:4:3. The partnership had a net income of $91,000. How much should be allocated to Checker? $3, 300 $10, 300 $1,000 $4,000 Partners A and B have a profit and loss agreement with the following provisions: salaries of $41, 600 and $38, 400 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 10% on average capital balances of $20,000 and $35,000 for A and B, respectively. One-third of any remaining profits are allocated to A and the balance to B. If the partnership had a net income of $36,000, how much should be allocated to Partner A, assuming that the provisions of the profit and loss agreement are ranked by order of priority starting with salaries? $12,000 $18,000 $18, 720 S41, 600