appropriation statement for the partnership

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Mary 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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