On January 1, 2019, John and Maria invested $100,000 and $150,000, respectively, into their partnership. They agreed to share profits and losses equally, regardless of their initial investment. The partnership agreement also specified that each partner would receive a monthly salary of $2,000 and $1,500, respectively.
John, a chef by training, would handle the kitchen and menu development, while Maria, with her business background, would take care of the finances and operations. They decided to form a partnership, as they wanted to share the risks and rewards of the business equally. On January 1, 2019, John and Maria invested
In the first month, the restaurant generated $200,000 in sales, with a total expense of $120,000. The partners also incurred $10,000 in liabilities to a local supplier. On January 1