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You are given the Statement of Partners' Capitals for F,M,& R Partnership, on 31-12-2022, a the net income for the year was divided between the

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You are given the Statement of Partners' Capitals for F,M,& R Partnership, on 31-12-2022, a
the net income for the year was divided between the partners. The Company has 3 partners
Fahmi, Muneer, and Raed. Find the following missing information;
image text in transcribed
F,M,\&\&R Partnership Statement of Partners' Capitals For the year ended 31-12-2022 1- Ownership (Capitals) ratio on 1-1-2022 was 2:1:1, respectively. 2- Partnership agreement states that net income (loss) is divided as follows: partners are given a 5% interest on beginning capitals, salaries are allocated to Muneer and Raed o and the remaining to be divided equally between them. 3- Muneer and Raed withdrew an amount equal exactly to their allocated salaries durin year, while Fahmi made no withdrawals. F,M,\&\&R Partnership Statement of Partners' Capitals For the year ended 31-12-2022 1- Ownership (Capitals) ratio on 1-1-2022 was 2:1:1, respectively. 2- Partnership agreement states that net income (loss) is divided as follows: partners are given a 5% interest on beginning capitals, salaries are allocated to Muneer and Raed o and the remaining to be divided equally between them. 3- Muneer and Raed withdrew an amount equal exactly to their allocated salaries durin year, while Fahmi made no withdrawals

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