Reference no: EM132934085
The partners of AAA Partnership are Delia, Nada, and Romina. During the current year, their average capital balances are as follows: Delia - $180,000; Nada - $160,000; Romina - $150,000. The articles of partnership provided the following terms:
1. Annual interest of 8% on their average capital balances.
2. Salary allowances as follows: Delia - $50,000 and Nada - $80,000.
3. Nada shall receive bonus of 15% of income in excess of $40,000 after partner's interest and salary allowances.
4. Residual profits shall be divided in the ratio of 2:2:6 to Delia, Nada and Romina.
Problem 1: How much will Ana receive if the net income earned is $470,000?
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: How much will Ana receive if the net income earned is $470,000? Nada shall receive bonus of 15% of income in excess of $40,000 after partner's interest.
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