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Partners Acker, Becker, and Checker have the following profit and loss agreement: Acker and Becker receive salaries of 40,000 each Checker gets a bonus of
Partners Acker, Becker, and Checker have the following profit and loss agreement:
- Acker and Becker receive salaries of 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, and 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?
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Industrial Relations in Canada
Authors: Fiona McQuarrie
4th Edition
978-1-118-8783, 1118878396, 9781119050599 , 978-1118878392
