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Susan Huang, Susan Montgomery, and Jack Tasker formed a partnership, Text Tech on June 1, 2022 by investing $120,000,$140,000, and $140,000 respectively. The partnership agreement
Susan Huang, Susan Montgomery, and Jack Tasker formed a partnership, Text Tech on June 1, 2022 by investing $120,000,$140,000, and $140,000 respectively. The partnership agreement states that incomes and losses are to be shared on the basis of a salary allowance of $27,000 for Susan Huang, $24,000 for Susan Montgomery $27,000 for Jack Tasker, 5% interest on their initial investments with any remainder shared equally. Following is the May 31,2023 adjusted trial balance, in alphabetical a) Cnmnlete the inrenme allnration crhediule helnws b) Prepare a classified balance sheet for Text Tech at May 31, 2023
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