Question: Please help me answer this Partnership Operation problem. Thank you! A and B invested 300,000 and 250,000 respectively on January 01, 2021. C and D
Please help me answer this Partnership Operation problem. Thank you!
A and B invested 300,000 and 250,000 respectively on January 01, 2021. C and D invested 250,000 and 300,000 respectively on January 01, 2021 and both of them withdraw 10,000 on June 01, 2021. For the year ended December 31, 2021, Flexy Courier Services had a profit of 600,000. The partnership contract provided that all partners shall received the 8% interest from their capital contributions and may withdraw 10,000 anually with 10% interest if exceeds, which all partners did during the year. In addition, A and B shall received additional 5,000 monthly for their monthly salary and the remaining profit shall be distributed based on their capital contributions.
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