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Please provide solutions and explanation for 8-10. Use the tollowing intormation to answer question 8: Partners Acker, Becker ii Checker have the following prot and

Please provide solutions and explanation for 8-10.

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Use the tollowing intormation to answer question 8: Partners Acker, Becker ii Checker have the following prot and loss agreement: 1 Acker 8; Becker receive salaries of ?40,000 each I 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 8: Checker in the following ratios. respectively, 3:4:3. 8. The partnership had a net income of $91,000. How much should be allocated to Checker? * O A.e1,000 O B.F'3,300 O c.e4,000 O D. 1910.300 Use the following information to answer questions 9 10: Chris and Grace formed a partnership on March 1 of the current year by contributing certain assets to the common fund. Chris contributed an equipment costing \"00,000 with a market value of F75,000 and enough cash to have a 60% interest on the partnership. Grace contributed a van with an original cost of P250300 and had a secondvhand value of F150,000. The van was a subjectto a chattel mortgage of P25,000 that was assumed by the partnership. 9. How much additional cash investment should Chris contribute to the partnership fund? * Q A. 937,500 0 B. e75,000 O c.e112,500 O D. e262,,500 10. How much is the total partnership asset immediately after its formation? * O A. 'P187,500 O B. P212500 0 c.e312.500 O D. P331500

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