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the missing part is loss allocation pleas solve it as fast as u can in clear way Amna and Jalal formed a partnership on January
the missing part is loss allocation
Amna and Jalal formed a partnership on January 2, 2019. Jalal invested $120,000 in cash. Amna invested land valued at $30,000. In addition, Amna was granted a yearly salary of $60,000 to manage the firm. The partners agreed to the following profit and loss allocation formula: - a. Interest - Each partner is to receive an interest of 8% on the original capital investment. b. Salary - $60,000 to Amna. C. Bonus Amna is to be allocated a bonus of 20% of net income after subtracting the bonus, and salary. d. The remaining profit is to be divided equally. At the end of 2019, the partnership reported net income before interest, salaries, and bonus of $168,000 2019 allocation of Instructions: Calculate the partnership profit pleas solve it as fast as u can
in clear way
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