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please can you give a solution of my homework for the year ended Quest Spaints. (15 minutes) (NO: A1.61&C2) The adjusted trial balance of the
please can you give a solution of my homework
for the year ended Quest Spaints. (15 minutes) (NO: A1.61&C2) The adjusted trial balance of the Yee and Zee Partnership for the year December 31, 2018. appears below. YEE AND ZEE PARTNERSHIP Adjusted Trial Balance December 31, 2018 Credit Debit 19.000 80,000 Current Assets ...... Plant Assets.... .... Current Liabilities..... 7,000 50,000 20,000 Long-term Debt..... Yee, Capital. 4,000 Yee, Drawing.... 18,000 Zee, Capital. 7.000 Zee, Drawing 100,000 Sales... 62,000 Cost of Goods Sold.... Operating Expenses.- 23.000 195,000 195.000 The partnership agreement stipulates that a division of partnership net income or net loss is to be made as follows: 1. A salary allowance of $12,000 to Yee and $23,000 to Zee. 2. The remainder is to be divided equally. Instructions: Prepare a schedule which shows the division of net income to each partnerStep by Step Solution
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