The apb partnership agreement specifies that partnership net income be allocated as follows:
partner a partner p partner b
salary allowance 3 1 4
interest on average
capital balance 10% 10% 10%
remainder 40% 40% 20%
average capital balances for the current year were $50,000 for a, $30,000 for p, and $20,000 for b.
19. refer to the information given. assuming a current year net income of $50,000, what amount should be allocated to each partner?
partner a partner p partner b
a) 2 2 1
b) 16000 16000 8000
c) 19000 (3000) 34000
d) 17000 0 33000
a. option a
b. option b
c. option c
d. option d