Bonnie and Clyde have a partnership to run their human resource management services firm. Account balances related

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Bonnie and Clyde have a partnership to run their human resource management services firm.

Account balances related to their equity for the year ended 30 June 2020 are as follows.

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Profit of $124 000 for the year was distributed evenly between the partners.
Required

(a) Prepare a statement of changes in partners’ equity using both method 1 and method 2.

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Accounting

ISBN: 9780730363224

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie

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