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ddd [48]
2 years ago
6

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus

of 20 percent of income after deduction of the bonus and the salary allowance. If income is $150,000, the bonus should be:
A. $18,000
B. $20,000
C. $24,000
D. $30,000
Business
1 answer:
Pavel [41]2 years ago
8 0

Answer:

The correct answer is C: Bonus= $24000

Explanation:

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the salary allowance.

The formula to calculate the bonus is:

Bonus=0,20*(Income-salary)

If income is $150000

Bonus= 0,20*(150000-30000)=$24000

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8 0
3 years ago
In its first month of operations, Culver Company made three purchases of merchandise in the following sequence: (1) 205 units at
Oksi-84 [34.3K]

Answer:

$2,450 ; $1,430

Explanation:

The computation of the ending inventory using the periodic inventory system is shown below:

Under FIFO method

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3 0
3 years ago
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choli [55]

Answer:

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8 0
3 years ago
As a young child, Hermes suffered from severe allergies and required weekly visits to a clinic in order to receive injections. A
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8 0
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Explanation:

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