Kevin, Kimoko, Maggie, and Ashley have a partnership that calls for the following allocation of income: Kevin and Kimoko are the receive lump sum salary payments of $50,000 each, if there's a profit Maggie is to receive a bonus equal to 10% of the profit and Ashley 5% of the profit, and any remaining income is to be split between Kevin, Kimoko, Maggie, and Ashley at 40%, 10%, 30% and 20% respectively. If there was a partnership net loss of $100,000, how much was allocated to Kevin in total?

Answer rating: 100% (QA)

ANSWER To calculate how much was allocated to Kevin in total in the case of a partnership net loss w... View the full answer