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i can't understand Pun Sna in a Malaysia cilimn, afood calming partnership baruness with Jou. The accounts of the partnership mber each year The partnership

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Pun Sna in a Malaysia cilimn, afood calming partnership baruness with Jou. The accounts of the partnership mber each year The partnership loma are as follows: i Inbred of 5% per annum to be paid to Sara and Joan on their capital contribution of KM200,000 and KMI 40,000 respectively. in) Sara and Jom are to be paid salaries of RM7,000 and KM6,000 per month respectively. in) Profit sharing ratios of 2/3 for Sara and 1/3 for Joan. On 1 July 2018, Joan left the partnership and Tiara joined as a new partner with a capital contribution of RM200,000. The new partnership maintains it accounts to 31 December each year. The profit sharing ratio and terms of the partnership were changed effective from July 2018 as follow. i) Sara and Tiara will receive an interest of 5% per annum based on their capital contribution in) A salary of RMB,000 per month is to be paid to each partner im) Effective from 1 July 2018, the profit sharing ratio for the partners is 1:1. iv) The provisional adjusted income of the partnership for the year of assessment 2018 are as follows: H 1.1 2018 - 30.6.2018 = RM130,000 1.7.2018-31.12.2018 = RM130,000 v) The capital allowance for the year of assessment 2018 is RM40,000 Required: Compute the adjusted income and the statutory income from the partnership business for Puan Sara, Joan and Tiara for the year of assessment 2018. (20 marks)

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