Iris, Hui Ying and joe lin are three partners who established a partnership called IHJ Enterprise on 1 January 2019. The details of their partnership agreement are as follows:

1. Iris contributes the largest capital that is 70%

2. Hi Ying is well versed in management and is wholly responsible on planning and managing the business operation. She contributes only 15% of capital.

3. Joe lin used to run a business similar to the partnership, therefore she has existing clients and is experienced in marketing. She also contributes only 15% of capital.

4. Overall total capital is RM 100,000

5. Profit and loss are divides as the following:

- Interest on capital at 10% per annum.

- Interest on drownings to be changed at 5% per annum.

- Hui ying and joe lin to be allowed annual salaries of 18,000

-each for their services and expertises contributed.

- The residual profit and loss to be distributed equally among the partners.