8. OMKR Supermarket, a partnership between Omar and Kumar, make sup its account 31 December annually. The terms of partnership includes the following: Salary per month Capital contribution Rate of interest Profit sharing Omar RM 3,000 RM 10.000 5% p.a Kumar RM 1,000 RM 10,000 5% p.a On 1 April 2005, Eric joined partnership and contributed capital of RM 100,000. The partnership accounts continued to be made up to 31 December The partnership terms were changed as follows: Salary per month Profit sharing ratio Omar RM 2,000 1/3 Kumar RM 2,000 1/3 Eric RM 2,000 1/3 Omar and Kumar continued to receive at 5% p. a on the capital contribution. The partnerships provisional income and capital allowances for year of assessment 2005 were as follows: Provisional income RM 103,000 Capital allowances RM 18,000 Required: a) Determine each partners share of provisional adjusted income of the b) partnership for the year of assessment 2005. c) Compute the statutory income of each partner for years assessment 2005 8. OMKR Supermarket, a partnership between Omar and Kumar, make sup its account 31 December annually. The terms of partnership includes the following: Salary per month Capital contribution Rate of interest Profit sharing Omar RM 3,000 RM 10.000 5% p.a Kumar RM 1,000 RM 10,000 5% p.a On 1 April 2005, Eric joined partnership and contributed capital of RM 100,000. The partnership accounts continued to be made up to 31 December The partnership terms were changed as follows: Salary per month Profit sharing ratio Omar RM 2,000 1/3 Kumar RM 2,000 1/3 Eric RM 2,000 1/3 Omar and Kumar continued to receive at 5% p. a on the capital contribution. The partnerships provisional income and capital allowances for year of assessment 2005 were as follows: Provisional income RM 103,000 Capital allowances RM 18,000 Required: a) Determine each partners share of provisional adjusted income of the b) partnership for the year of assessment 2005. c) Compute the statutory income of each partner for years assessment 2005