Mathew,Patrick,and Robin and have capital balances of $75,000,$125,000 and $93,000,respectively.As per the partnership agreement,Mathew gets a profit share of 2/9;Patrick gets 4/9;and Robin gets 3/9.Partnership agrees to pay $65,000 as final settlement to Mathew.How much bonus will Robin receive as a result of this transaction?

Question

Quizplus · Accepted Answer

B)Bonus = $75,000 - $65,000 = $10,000
Profit share between Patrick and Robin is 4:3
Robin's Share = $10,000 × 3 / 7 = $4,286

Mathew,Patrick,and Robin and Have Capital Balances of $75,000,$125,000 and $93,000,respectively