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The following balances pertain to Omar and Hana Limited Liability partnership: Beginning capital balance of Omar = 201812488 Beginning capital balance of Hana = [4]

The following balances pertain to Omar and Hana Limited Liability partnership:

Beginning capital balance of Omar = 201812488

Beginning capital balance of Hana = [4] * [201812488] this is Beginning capital balance

Suppose that the contract of the partnership shows the following facts

  1. There is a 10% interest on the beginning capital of partners
  2. The is a monthly salary of Omar $2000
  3. There is a 20% bonus of Hana of income after the bonus.
  4. The remainder is divided based on the balances of beginning capital

Required:

  1. Record the journal and closing entries?

What are the balances of ending capital?

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