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PS STA Ahmed and Sayed are partners in A&S Partnership. Ahmed invests $500,000 and Sayed invests $900,000. They agree to grant salary allowance of $80,000
PS STA Ahmed and Sayed are partners in A&S Partnership. Ahmed invests $500,000 and Sayed invests $900,000. They agree to grant salary allowance of $80,000 to Ahmed and $120,000 to Sayed; a 8% interest allowance on beginning capital balances and to share any remaining income or loss equally. A&S partnership reports net income of $390,000 for this year. Required: Allocate the net income botwoon the partners. PLEASE SHOW THE CALCULATION FOR EACH PARTNER IN A SEPARATE LINE For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 Mac BI V. Paragraph Arial 10pt A2 I. X 0 111 v O WORDS POWERE AV TIM
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