The Partnership Contract for Hanes and Jones LLP Provides That

question 38

Multiple Choice

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) $38,400.

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