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The A B C partnership reported net income of $130,000 for the year ended December 31, 2008. According to the partnership agreement, partnership profits and
The A B C partnership reported net income of $130,000 for the year ended December 31, 2008. According to the partnership agreement, partnership profits and losses are to be distributed as follows: A B salaries 25000 20000 15000 Bonus on net income 10% Remainder 60% 30% 10% How should partnership net income for 2008 be allocated to A, B, and C? A B A) 78000 39000 13000 B) 72200 37100 20700 C) 52500 75000 22500 D) 42500 42500 65000 Select one: a. A B A) 78000 39000 13000 b. A B. C) 52500 75000 22500 C. A BC D) 42500 42500 65000 d. A B C 72200 37100 20700
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