appropriation statement for the partnership
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Free Inquiry Order A Paper Now Cost EstimateMary and Johns run a business together and are organized as a partnership to which each has contributed $ 140,000 in capital. During their accounting years they made a profit of $240,000. Drawings amounted to $14,000 for Mary and $18,000 for Johns.
Their partnership agreement stipulates the following:
· A profit sharing ratio of 2:3
· Eight percent interest on capital
· Ten percent interest charged on drawings
· Mary receives a salary of $40,000 per annum
Required: Prepare an appropriation statement for the partnership. EFFICIENTLY ORDER A 5 STAR COLLEGE TERM PAPER NOW Answer 2 Scenario Questions Accurately Now
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