When the old partners receive a bonus upon admission of a new partner into a partnership, the bonus is allocated to:

I. all the partners in their profit and loss sharing ratio.

II. the existing partners in their profit and loss sharing ratio.

Select one: a. Either I or II b. Neither I nor II c. I only d. II only

Ahmad an active partner receives an annual Bonus 25% of partnership net income after deducting his bonus

for the year ended 2019 partnership net income before bonus amounted to 300,000 , the bonus for Ahmad should be

Select one: a. 75,000 b. 60,000 c. 240,000 d. 225,000