Find the profit share of DySAS

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Reference no: EM132637888

Question - JPIA, JAAT and DySAS are partners in DAE Partnership. Their capital account balances at December 31, 2019 were 90, 000, 110, 000 and 50, 000 respectively. They share profits in 4:4:2 ratio, after the following terms:

DySAS is to receive a bonus of 10% of the net income after salaries and bonus. Int. of 10% shall be paid on that portion of partner's capital in excess of 100, 000.

Salaries of 10,000 and 12,000 shall be paid to partners JPIA and DySAS, respectively. The income of the partnership was 44, 000. Find the profit share of DySAS?

Reference no: EM132637888

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