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A partneeship begins its first year of operations with the following capital balances: According to the articles of parthership, all profits will be assigned as
A partneeship begins its first year of operations with the following capital balances: According to the articles of parthership, all profits will be assigned as follows: - Winston will be awaided an annual salary of $10,000 with $5,000 aseigned to Salem. - The partners wall be attibuted interest equal to 10 percent of the capital balance as of the first day of the ycat - The remainder wall be asuigned on a 523 bask, respectively. - Each partner is allowed to withdiaw up to $5,000 per year. The net loss for the last year of eperations is $24,000 and net income for the subsequent year is $25,000. Each parther withdraws the inaxirrum arnount fom the business each period, What is the balance in Winston's copital accourt at then end of the second year
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