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QUESTION 24 Scrooge and Marley have a partnership agreement which includes the following provisions regarding...

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QUESTION 24 Scrooge and Marley have a partnership agreement which includes the following provisions regarding sharing net income or net loss a) A salary allowance of $54,000 to Scrooge and $36,000 to Marley b) An nterest allowanc e of 10% on capital balances at the begn ng of the year c)Tho rernander to be dvded 60% to Scrooge and 40% to Marley The capital balance on January 1,2017, for Scrooge and Marley was 590,000 and $120,000, respectively During 2017, the Scrooge and Marley Partnership had net income of $120,000 Enter the missing values in the schedule below, and caculate the division of n net income to the partner for the year Division of Net Income Maley Scrooge Total Salary allowance Interest allowance Total salaries and interest Remaining inc ome Total division QUESTION 25

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