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Category > Management Posted 22 Jan 2018 My Price 5.00

annual allocation

The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following sequence:

Jones, the managing partner, receives a bonus equal to 20 percent of the business's profit

Each partner receives 11 percent interest on average capital investment.

Any residual profit or loss is divided equally.

The average capital investments for 2013 were as follows:

     

Jones

$

195,000

King

  

390,000

Lane

  

585,000

How much of the $90,000 partnership profit for 2013 should be assigned to each partner?

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jan 2018 08:01 PM My Price 5.00

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