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Question #4 (5 Marks) Saleh & Nadeem are partners in a firm. On 1/1/2020, capital balances in the partnership are $80000, $90000, respectively. Partner's Current

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Question #4 (5 Marks) Saleh & Nadeem are partners in a firm. On 1/1/2020, capital balances in the partnership are $80000, $90000, respectively. Partner's Current Account balances are $10000 credit, $5000 debit, respectively. During 2020, Saleh invested Cash of JD 22000 as an addition to his capital in the firm; and made drawings of JD10,000 on 1/4/2020. while Nadeem reduced his capital JD20,000; and made drawings of JD 4,000 on 1/6/2020. The partnership income-sharing agreentent provides for (1) annual salaries of JD15,000 for Saleh, (2) interest at 10% on ending capital balances, (3) Interest on Drawings 10%; and (4) remaining income or loss to be shared according to the Average Partners' capital balances during the year, the firm earned net income of JD 100,000. a) Saleh's share of the net income is......... b) Nadeem's Current Account balance at 31/12/2020 is: Question # 2 (5 Marks) a) Marwan and Sami are partners in a partnership company. The company's income statement for the year 2020 showed a net loss of JD 10,000. Marwan gets an annual salary of 4,000 dinars, and Sami receives a bonus of 10% of the net profit. Profits and losses are distributed equally between the two partners. Sami's share of the net income is.... b) Sofian and Rami are partners in a firm. On 1/1/2020, capital balances in the partnership are $80000, $90000, respectively. Partner's Current Account balances are $30000 credit, $25000 credit, respectively. Partner's Drawings during the year are $10000, $5000, respectively. On 1/6/2020, Rami advanced a loan of $8000 to the firm for five years with a rate of 12% transfer to his current account every six months. Income ratios are equal. During 2020, the company net Losses of $20000. Rami's Current Account balance at 31/12/2020 is: Question #4 (5 Marks) Saleh & Nadeem are partners in a firm. On 1/1/2020, capital balances in the partnership are $80000, $90000, respectively. Partner's Current Account balances are $10000 credit, $5000 debit, respectively. During 2020, Saleh invested Cash of JD 22000 as an addition to his capital in the firm; and made drawings of JD10,000 on 1/4/2020. while Nadeem reduced his capital JD20,000; and made drawings of JD 4,000 on 1/6/2020. The partnership income-sharing agreentent provides for (1) annual salaries of JD15,000 for Saleh, (2) interest at 10% on ending capital balances, (3) Interest on Drawings 10%; and (4) remaining income or loss to be shared according to the Average Partners' capital balances during the year, the firm earned net income of JD 100,000. a) Saleh's share of the net income is......... b) Nadeem's Current Account balance at 31/12/2020 is: Question # 2 (5 Marks) a) Marwan and Sami are partners in a partnership company. The company's income statement for the year 2020 showed a net loss of JD 10,000. Marwan gets an annual salary of 4,000 dinars, and Sami receives a bonus of 10% of the net profit. Profits and losses are distributed equally between the two partners. Sami's share of the net income is.... b) Sofian and Rami are partners in a firm. On 1/1/2020, capital balances in the partnership are $80000, $90000, respectively. Partner's Current Account balances are $30000 credit, $25000 credit, respectively. Partner's Drawings during the year are $10000, $5000, respectively. On 1/6/2020, Rami advanced a loan of $8000 to the firm for five years with a rate of 12% transfer to his current account every six months. Income ratios are equal. During 2020, the company net Losses of $20000. Rami's Current Account balance at 31/12/2020 is

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