The partnership agreement of Flynn, Gant, and Hill allows Gant a bonus of 10% of...
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Accounting
The partnership agreement of Flynn, Gant, and Hill allows Gant a bonus of 10% of income after the bonus, salaries of $30,000 per partner and interest of 6% on average capital balances of $120,000, $150,000, and $180,000 for Flynn, Gant, and Hill, respectively. The amount of Gants bonus, assuming income before bonus, salaries, and interest of $315,000, is.... and how did you do it? It would be much appreciated to show the work
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