1)Total interest allowance is: *

$45,000

$25,000

$15,000

$6,000

None of the above

2)Total Salaries and Interest for Sandra is: *

$11,000

$6,000

$5,000

$0

None of the above

3)Division of Net Income to Aya is: *

$28,000

$23,000

$18,000

$0

None of the above

Aya, Sandra and Alaa, the partners in ASA Company, have capital balances on January 1, 2020 of $150,000, $60,000 and $40,000 respectively. On December 31, 2020 the net income of ASA Company is $30,000. The partnership income-sharing agreement indicates that: o Salary allowance of $8,000 to Aya, $5,000 to Sandra and $7,000 to Alaa. Interest allowance of 10% on capital balances for all partners at the beginning of the year. o The remaining income or loss is shared equally between partners