Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the partnership contract for hanes and jones llp p

The partnership contract for Hanes and Jones LLP provides that Hanes is to receive a...

80.2K

Verified Solution

Question

Accounting

The partnership contract for Hanes and Jones LLP provides that Hanes is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partnership income before the bonus for the year is $57,600, Hanes' share of this pre-bonus income is:
a.28,800.
b. $33,600.
c. $34,560.
d. $35,520.
e. $38,400.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Discuss when total asset turnover would be more important than fixed asset turnover. Provide an example.

Finance
Q

4. Sean has been diagnosed with moderate Schizophrenia. In an effort to improve his ability to...

Psychology
Q

Please Use your keyboard (Don't use handwriting) *Course Name: Ethics and Regulations in Heal PHC 216 I need new...

Psychology
Q

Define reliability & validity, describe and separate the three methods for demonstrating validity. talk about the relationship...

Psychology
Q

Polynomial and rational functions can be used to model a wide variety of phenomena of science,...

Advance Math
Q

What other renewable resource may be an option for energy production in this area O...

Biology
Q

e following information for the past year for the Magic Corporation has been provided xed...

Basic Math
Q

Use the given figure and any appropriate relationship s among circular functions to find 3...

Calculus
Q

Verify the identity algebraically Use a graphing utility to check your result graphically 7 csc...

Algebra
Q

Taveras Corporation currently operates at 50% of its available manufacturing capacity. It...

Accounting
Q

True Printing Company of Baltimore has applied for a loan. Its bank has requested a...

Accounting
Q

Angela purchased a machine for her business on 1 March 20X1 for $12,000. She incurred...

Accounting