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case one Adnan, Saleh and Marwan are three partners in partnerships; on 1/1/2019 you got the following information capital Profit loss ratio Adnan 100,000 50%
case one Adnan, Saleh and Marwan are three partners in partnerships; on 1/1/2019 you got the following information capital Profit loss ratio Adnan 100,000 50% Saleh 80,000 40% Marwan 20,000 10% On the same date they agree to admit kareem on partnerships by investing cash $ 60,000 by giving him 20% capital interest and profits Instructions:- By using BONUS method record the journal entries case 2 B and R co-partners in Company. The partnership agreement provides for: (1) salary allowances of $3,000 to B and $2,000 to R, (2) interest allowances of 10% on capital balances at the beginning of the year, and (3) the remainder equally. Capital balances on January 1, were B $10,000, and R $20,000. In 2017 partnership net income is $10,000
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