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Current Attempt in Progress After closing the revenue and expense accounts, the profit for the year ended December 31,2024 , of Patricia & Barbara Partnership
Current Attempt in Progress After closing the revenue and expense accounts, the profit for the year ended December 31,2024 , of Patricia \& Barbara Partnership i $72,300. The partnership agreement specifies that profits and losses will be shared using the following formula. 1. Allocate salary allowances of $21,300 to Patricia and $29,700 to Barbara. 2. Remaining profit (loss) is to be shared ona ratio of 2:1: At the beginning of the year. Patricia's capital account had a balance of $25.600 and Barbara's capital account had a balance of \$18,700. Patnicia withdrew $852 cash per month while Barbara withdrew $1,704 per month from the partnership. Prepare a schedule to show how the profit will be allocated to the two partners. (Round answers to 0 decimal places, e.g. 5,275. )
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