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How much should be allocated to checker

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Question

Partners Acker, Becker, and Checker have the following profit and loss agreement:

Acker and Becker

receive salaries of 40,000 each

Checker gets a bonus of 10 percent of net income after salaries and bonus (the bonus is zero if salaries exhaust net income)

Remaining profits are shared by Acker, Becker, and Checker in the following ratios respectively: 3:4:3

The partnership had a net income of 91,000. How much should be allocated to Checker?

Reference no: EM132319585

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