Betta, Gretta and Jetta operate a partnership business sharing profits and losses in the ratio of 5:3:2.

Their capital balances at the beginning of the year were $60,000, $40,000 and $30,000 respectively.

For the year ending June 30, 2020 the following information is given to you.

Net Income from operations $120,000

Salaries paid to Betta and Gretta were $500 per month.

Jetta was paid a bonus of $5,000 for the year.

All the partners were to receive interest on capital @6% per annum on their beginning capital balances.

Betta, Gretta and Jetta withdrew $6,000, $5,000 and $8,000 respectively.

Required:

Prepare a statement to show the ending capital account balances of the 3 partners at the end of June 30, 2020.