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Luqman and Pidris share profits and losses equally. Luqman and Pidris receive salary allowances of $ 2 0 , 0 0 0 and $ 3
Luqman and Pidris share profits and losses equally. Luqman and Pidris receive salary allowances of $ and $ respectively, and both partners receive interest on their average capital balances. Pidris is entitled to a bonus of after deduction of bonus. Partners drawings are not used in determining the average capital balances. Total net income for is $
Luqman Pidris
January capital balances $
Yearly drawings $ a month
Permanent withdrawals of capital:
June
May
Additional investments of capital:
July
October
a What is the weightedaverage capital for Luqman and Pidris in Points
b What will be the final profit allocations for Luqman and Pidris in points
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