11:54 A = Chegg Study Textbook Solutions Expert Q&A Study Pack Practice **** Find solutions for your homework Search home / study business/corting accounting questions and answers i cant boundarie, alaustres dents.ope she best P Question: F on Anita, Bob and Carrie, all Australian residents, operate... my Anita, Bob and Carrie, all Austrian residents, operate a beauty salon in partnership. They have agreed to share profits and losses as follows: Anita 30% Bob 20%: Carrie 50% For the tax year ending 30 June 2020. Anita and Bob, who worked in the partnership business, withdrew a salary of $50,000 each from the business Carrie did not receive any salary but was paid $30,000 interest on her contributed capital investment in the partnership After taking into account the above payments for the year ended 30 June 2020, the partnership was left with an excess of $107.000. This amount included a fully franked cash dividend 557.000 received from a large size company with corporate tax rate at 30%), but did not include the associated franking credit Additional Information for the 2019-20 tax year Anita is 31 years old. She is single and has private health insurance with no dependants. Her other income consisted of $6,000 interest from a bank account from which the bank had withheld $1,400 in tax. She also had a net loss of $14.000 from a negatively geared rental property. Bob is 35 years old, and has private health insurance with no dependants. He also received $14,000 cash dividends from his investment in Telstra's shares which are fully franked. During the current year he incurred 55,500 interest expense on the loan he obtained to purchase those Telstra shares Carrie is 68 years old, has private health insurance and no dependents. She has rental property income of $35,000 from a holiday home and an annual pension from a complying superannuation fund of $50,000 (a private super fund). Her annual costs on the rental property consisted of $3.000 general expenses and $14,000 interest expense. Required: search BI 9 Required: For the tax year ended 30 June 2020: 1. Calculate the distribution to each partner, 2. Calculate the taxable income and tax payable (refundable) for each partner. This is the full question. Sharest View oomments > Expert Answer A This Question has been answered ABOUT CHEGO LEGAL & POLICIES CHEGG PRODUCTS AND SERVICES CHEGG NETWORK Expert Answer A This Question has been answered ABOUT CHEGO LEGAL & POLICIES CHEGG PRODUCTS AND SERVICES CHEGG NETWORK