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teve Moore, Tracy Regis, and Bonnie Northrup formed a partnership, Schafer Merchandising on May 1,2022 by investing $140,000, $140,000, and $120,000 respectively. The partnership agreement
teve Moore, Tracy Regis, and Bonnie Northrup formed a partnership, Schafer Merchandising on May 1,2022 by investing $140,000, $140,000, and $120,000 respectively. The partnership agreement tates that incomes and losses are to be shared on the basis of a salary allowance of $24,000 for Steve Moore, $21,000 for Tracy Regis, and $15,000 for Bonnie Northrup, 10% interest on their initial ivestments with any remainder shared equally. Following is the April 30,2023 adjusted trial balance, in alphabetical order a) Complete the income allocation schedule below
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