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Maria, an active partner in the Grifton/Blum CPA firm partnership, receives an annual bonus of 10% of partnership net income after deducting the bonus. For the year ended 2017, partnership income before
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Maria, an active partner in the Grifton/Blum CPA firm partnership, receives an annual bonus of 10% of partnership net income after deducting the bonus. For the year ended 2017, partnership income before the bonus was $220,000. Maria should receive a bonus of_________.

User Timmfin
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Answer: $19,800

Explanation: Annual Bonus is 10% of 220,000= 22,000

Net income of partnership = 220,000- 22,000= 198,000

Bonus due to maria is 198,000*10%= 19,800

User Sherard
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