10. The Articles of Partnership of partners A and B stipulates the following • Annual salary of P60,000 each. • Bonus to Partner A of 20% of the profit after partners salaries. The bonus and salaries...

10. Under Millan book.This is not a part of our exam but is included in the reference book and I want to review its answer.

Extracted text: 10. The Articles of Partnership of partners A and B stipulates the following • Annual salary of P60,000 each. • Bonus to Partner A of 20% of the profit after partners salaries. The bonus and salaries are treated as expenses. • Balance to be divided equally. The partnership earned profit of P480,000 before partners' salaries and bonus. How much is the total share of A, including salary and bonus? a. 270,000 b. 250,000 c. 230,000 d. 210,000