Business, 05.07.2021 20:00 adelet

The DEF partnership reported net income of $130,000 for the year ended December 31, 20X8. According to the partnership agreement, partnership profits and losses are to be distributed as follows in the following order: D Â Â Â Â Â Â Â Â Â Â Â Â EÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â F
Salaries Â Â Â Â Â Â Â Â Â Â Â Â Â Â $25,000Â Â Â Â Â Â Â Â Â Â Â Â $20,000Â Â Â Â Â Â Â Â $15,000
Bonus on net income Â Â Â Â Â Â Â 10%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Remainder Â Â Â Â Â Â Â Â Â Â Â 60% Â Â Â Â Â Â Â Â Â Â Â 30% Â Â Â Â Â Â Â Â 10%

Required:
How should partnership net income for 2008 be allocated to D, E, and F?

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The DEF partnership reported net income of $130,000 for the year ended December 31, 20X8. According...

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