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Sage,Rosemary and Thyme Are Partners in the Music Company

Question 59

Multiple Choice

Sage,Rosemary and Thyme are partners in the Music Company.Their partnership income sharing agreement provides that Sage and Thyme are to receive salary allowances of $29,700 and $16,800,respectively,and that any remaining income or loss is to be divided equally among all partners.If the company's income was $39,000,Thyme's share would be:


A) $14,300
B) $16,800
C) $19,300
D) $29,800

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