MAR Consulting Services was incorporated by three (3) sisters, Maya, Alina, and Rayyan on 1 January...

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MAR Consulting Services was incorporated by three (3) sisters, Maya, Alina, and Rayyan on 1 January 2018 with each partner contributing a capital of RM30,000. The partnership agreement sets out the following: a) active partners are given an allowance of RM12,000 per year. b) interest on the opening capital is set at a rate of 5% per annum. c) profit or loss is shared according to the ratio of 3: 2: 1 to Maya: Alina: Rayyan. The account balance of MAR Consulting Services as at 31 December 2020 is as follows: Debit (RM) Credit (RM) Capital Maya 40,000 Alina 38,000 Rayyan 35,000 Current account Maya 500 Alina 3,200 Rayyan 2,000 Land 92,000 Equipment 27,000 Account receivable 18,000 Cash 37,300 Account payable 14,000 Loan 25,000 MAR Consulting Services was incorporated by three (3) sisters, Maya, Alina, and Rayyan on 1 January 2018 with each partner contributing a capital of RM30,000. The partnership agreement sets out the following: a) active partners are given an allowance of RM12,000 per year. b) interest on the opening capital is set at a rate of 5% per annum. c) profit or loss is shared according to the ratio of 3: 2: 1 to Maya: Alina: Rayyan. The account balance of MAR Consulting Services as at 31 December 2020 is as follows: Debit (RM) Credit (RM) Capital Maya 40,000 Alina 38,000 Rayyan 35,000 Current account Maya 500 Alina 3,200 Rayyan 2,000 Land 92,000 Equipment 27,000 Account receivable 18,000 Cash 37,300 Account payable 14,000 Loan 25,000