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Veda Robinson and Gordon Garcia have a partnership agreement with the following provisions for sharing profit or loss: 1. A salary allowance of $34,000 to

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Veda Robinson and Gordon Garcia have a partnership agreement with the following provisions for sharing profit or loss: 1. A salary allowance of $34,000 to Robinson and $43,700 to Garcia 2. An interest allowance of 5% on capital balances at the beginning of the year 3. The remainder to be divided between Robinson and Garcia on a 2:3 basis The capital balances on January 1, 2024, for Robinson and Garcia were $90,200 and $111,100, respectively. For the year ended December 31,2024 , the Robinson Garcia Partnership had sales of $374,000; cost of goods sold of $275,000; operating expenses of $143,000; V. Robinson drawings of $26,388; and G. Garcia drawings of $31,680 Prepare an income statement for Robinson Garcia Partnership for the vear. Prepare an income statement for Robinson Garcia Partnership for the year. repare a schedule to show how the loss will be allocated to the two partners. (Enter negative amounts using either a negative sign receding the number eg. -45 or parentheses e.g. (45).) V. Robinson G. Garcia Total Deficiency remaining for allocation Interest allowance V. Robinson G. Garcia Total Deficiency remaining for allocation Fixed ratio G. Garcia Total Deficiency remaining for allocation Fixed ratio V. Robinson G. Garcia Total Loss remaining for allocation Loss allocated to the partners Prepare a statement of partners' equity for the year

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