Assume a three-person partnership had a net income of $80,000 . The salary allowances the partners withdrew totaled $50,000 . The partnership agreement specifies a 45/25/30 ratio for allocating gains and losses. How is the remaining income allocated?

a. $13,000, $8,000 and $9,000
b. $13,000, $7,000 and $10,000
c. $14,000, $7,500 and $8,500
d. $13,500, $8,000 and $8,500
e. $13,500, $7,500 and $9,000

e

Business

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A _____ is a business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective without forming a separate legal entity.

A. direct sales group B. consortia C. franchising organization D. strategic international alliance E. joint venture

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Customer retention is:

a. the only method of measuring customer satisfaction. b. an organization's continuous attempts to satisfy and keep current customers actively involved in conducting business. c. another word for leadership. d. unnecessary in today's business environment.

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