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What is johns share of the distribution

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Problem

John and Jane have capital account balances at the end of the year of $100 000 and $80 000 respectively. Profit of the partnership is $70 000. The pmfit and loss sharing agreement calls for (1) a salary of $20,000 to Jahn and $10,000 to Jane, (2) 10 % p.a. interest an capital balances, (3) the residual profit to be split 70 - 30 in favour of John. What is John's share of the distribution?
a. $43 000
b. $45 400
c. $21 000
d. $24 500.

Reference no: EM131809367

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