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After closing the revenue and expense accounts, the proht for the year ended December 31, 2021 of the Mo & Molly partnership is $93,000. The

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After closing the revenue and expense accounts, the proht for the year ended December 31, 2021 of the Mo & Molly partnership is $93,000. The partnership agreement specifies that profits and losses will be shared using the following formula, 1. Allocate salary allowances of $21,000 to Mo and $33,000 to Molly, Remaining profit (loss) is to be shared on a ratio of 2:1. 2. At the beginning of the year, Mo's capital account had a balance of $36,000 and Molly's capital account had a balance of $23,000, Mo withdrew $1,000 cash per month while Molly withdrew $2,000 per month from the partnership. (a) Your Answer Correct Answer (Used) Prepare a schedule to show how the profit will be allocated to the two partners MO & MOLLY Division of Proht Year Ended December 31, 2021 Molly Mo Total MO & MOLLY Statement of Partners' Equity Year Ended December 31, 2021 Mo Molly Total $ $

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