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can someone help me please. After closing the revenue and expense accounts, the profit for the year ended December 31, 2021 of the Mo &

can someone help me please. image text in transcribed
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After closing the revenue and expense accounts, the profit for the year ended December 31, 2021 of the Mo & Molly partnership is $93,000. The partnership agrdement specifies that profits and losses will be shared using the following formula. Allocate salary allowances of $21,000 to Mo and $33,000 to Molly. 2. Remaining profit (loss) is to be shared on a ratio of 2:1. 1. 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. withdrew $1,000 cash per month while Molly withdrew $2,000 per month from the partnership. pare a schedule to show how the profit will be allocated to the two partners. MO & MOLLY Division of Profit Year Ended December 31, 2021 Molly Mo Total $ allowance Division of Pront Year Ended December 31, 2021 Molly Mo Total Profit Salary allowance Mo Molly Total Profit remaining for allocation Exed ratio Mo Tolly Total remaining for allocation allocated to the partners $ $ SA

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