Q13

Save Answer 3 points Click Submit to complete this assessment Question 13 Ahmed and Sayed are partners in A&S Partnership. Ahmed Invests $500,000 and Sayed Invests 9900,000. 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. IK > V Required: Allocate the net income between 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). B I S Paragraph Arial 10pt PBC v > TT 2 (5) 36 TT TINY