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An Islamic company was established in the form of ALAnan (Haphazard) between Gamal, Khalil and Amer to trade in foodstuffs. Profits are divided between them

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An Islamic company was established in the form of ALAnan (Haphazard) between Gamal, Khalil and Amer to trade in foodstuffs. Profits are divided between them by 50%,30% and 20% respectively, while the company's capital at the end of the year is 150000 dinars and the annual purchases amounted to 500,000 dinars and the expenses of selling it 25,000 dinars And the beginning Inventory of the period is 50,000 dinars, and the ending Inventory of the period were estimated at 60,000 dinars at the market value, as (Gamal withdrew 5,000 dinars, Khalil 5,000 dinars, and Amer 5,000 dinars as personal withdrawals) If the sales amount to 500,000 dinars - :Required 1) Preparing the income statement? 2) Calculate the net profit for each partner? 3) What is the balance of the partner's current account for each partner? 4) Calculate the Owners' equity of each partners

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