Question: pit it in excel table HOME 1 Grit Gritty and Flit Flitty formed a partnerhship in 2 0 2 0 They contributed capital as follows:

pit it in excel table
HOME 1 Grit Gritty and Flit Flitty formed a partnerhship in 2020 They contributed capital as follows: GG $300,000 and FF $350,000. The agreement was that they receive the following:-
a. Salaries of $40,000 and $60,000 respectively
b. Interest on capital balances of 10%
Instructions: Show the profit/loss sharing under each of the following condition assuming the income was $90,000
The Profit sharing ratio is 30:70
There is no agreement as to profit sharing, and the income was $75,000
pit it in excel table HOME 1 Grit Gritty and Flit

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