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How much is share of a in partnership results of operations

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A and B formed a partnership. The partnership agreement stipulates the following:

  • Annual salary allowances of ?100,000 for A and ?70,000 for B.
  • Bonus to A of 10% of profit after partner's salaries and bonus.
  • The partners share profits and losses on a 50:50 ratio.

Problem 1: During the period the partnership incurred loss of ?500,000. How much is the share of A in the partnership results of operations during the period?

a. (280,000)

b. (220,000)

c. (265,000)

d. (235,000)

 

Reference no: EM132759318

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