Partners A and C shall receive annual salaries of B12,000 and B8,000, respectively. A bonus of 10% of profit after salaries but before deduction of bonus shall be given to Partner A, the managing...

Extracted text: Partners A and C shall receive annual salaries of B12,000 and B8,000, respectively. A bonus of 10% of profit after salaries but before deduction of bonus shall be given to Partner A, the managing partner. Each partner shall receive 10% interest on average capital investments. Any remaining profit or loss shall be shared as follows: 40% to A and 30% each to B and C. The average capital investments of partners during the year are as follows: A B100,000 60,000 120,000 Assiuming that the partnershin earnec a profit amounting to P10 000 1 point