Partner Bonus Lilly has a capital balance of $113,000 after adjusting assets to fair market value....
Partner Bonus
Lilly has a capital balance of $113,000 after adjusting assets to fair market value. Marler contributes $60,000 to receive a 40% interest in a new partnership with Lilly.
Determine the amount and recipient of the partner bonus.
| Amount of bonus | $ |
| Recipient of bonus |
Homework Answers
ANS :-
Total Capital of new partnership business = 113000 + 60000 = $ 173000
Interest of Marler = 173000 * 40 % = $ 69200
Bonus amount = 69200 - 60000 = $ 9200
The Bonus of $ 9200 will be paid Lilly.
Conclusion:-
Amount of Bonus = $ 9200
Recipient of Bonus = Lilly.
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Partner Bonus
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