Question Completion Status Required: State, with reasons, whether a partnership exists in the above satuation. (5 makes

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Question Completion Status Required State With Reasons Whether A Partnership Exists In The Above Satuation 5 Makes 1 (36.64 KiB) Viewed 28 times

Question Completion Status Required: State, with reasons, whether a partnership exists in the above satuation. (5 makes b. Tara and Neem are partners of T&N Enterprise and have been carrying on a business as taxi operators for many years. The purtnership deed provides the following: Monthly salary of RM5,000 for each partner 5% interest per annum to be paid to Turn and Neem on their respective capital contributions of RM100,000 and RM200,000 A profit sharing ratio of 75% for Tara and 25% for Neem Details of the partnership income statement for the year ended 31 December 2020 are as follows. RM Provisional adjusted income 120,000 Capital allowances 10,000 Additional information • Neem has a brought forward business loss of RM10,000 from the year of sement 2019 . Tara also runs a travel agency as a sole proprietorship During the year of assement 2020, the business made an adjusted loss of RM7000, Required: Compute the divisible partnership income or loss for both Neem and Tura, md also the total income of each partner for the year of essment 2020 15 mars Attach Fle Bbw Local Browse Content Collection Oon 102