Mathew,Patrick and Robin and Have Capital Balances of $78,000,$125,000 and $90,000,respectively.As

question 50

Multiple Choice

Mathew,Patrick and Robin and have capital balances of $78,000,$125,000 and $90,000,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 $62,000 as final settlement to Mathew.How much bonus will Robin receive as a result of this transaction?

• A)$8889
• B)$6857
• C)$7111
• D)$9143

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Definitions:

Liability

Legal obligations or debts that a business or individual is responsible for.

Liability

Liability refers to a company's legal financial debts or obligations that arise during the course of business operations.

Asset

An item of value owned by a person or company, regarded as having economic value and available to meet debts, commitments, or legacies.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership's claim on the company assets.