For Starrite Co., beginning capital balances on January 1, 2012, are Donna Noble $20,000 and Amy Bond
Question:
For Starrite Co., beginning capital balances on January 1, 2012, are Donna Noble $20,000 and Amy Bond $18,000. During the year, drawings were Noble $8,000 and Bond $5,000. Net income was $30,000, and the partners share income equally.
Instructions
(a) Prepare the partners’ capital statement for the year.
(b) Prepare the owners’ equity section of the balance sheet at December 31, 2012.
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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