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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. $38,40

Respuesta :

Answer:

share of pre bonus income = $33600

so correct option is B. $33,600

Explanation:

given data

receive  bonus = 20% of net income

partnership income before the bonus = $57,600

to find out

share of pre bonus income

solution

we know that  share of pre bonus income will be here as

share of pre bonus income = Bonus + Share of remaining net income  ..............1

put here value we get

share of pre bonus income = [tex]\frac{20}{120}+ (57600 - \frac{20}{120}*57600) * \frac{1}{2}[/tex]  

solve it we get

share of pre bonus income = $33600

so correct option is B. $33,600

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