How much will sualihu receive as his share

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Question: Use this information to answer question 5 to 9. During 20X1, the M & S partnership earned $55,000 of revenue and incurred $45,000 in expenses. Leaving a profit of $10,000 for the year. Mohammed maintains a capital balance of $25,000 during the year, however Sualihu's capital investment varies during the year as follows:

Date	Debit (withdrawals)	Credit (additional capital contribution)	Balance
January 1			$15,000
May 1	$4,000		11,000
September 1		$2,000	13,000
November 1	3,000		10,000
December 31			10,000

Suppose Mohammed and Sualihu agree to allocate profits first based on %15 of the weighted-average capital balances and then to any remaining profit based on a 3:2 ratio, how much will Sualihu receive as his share of the $10,000 profit?

Reference no: EM133335799

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