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CAN SOMEBODY HELP ME WITH THIS QUESTION? ALL ANSWERS ARE CORRECT, I CALCULATE THE DRAKE CRUSHING, AND SHAWN TADLOCK, I DON'T KNOW WHY THESE ANSWER
CAN SOMEBODY HELP ME WITH THIS QUESTION? ALL ANSWERS ARE CORRECT, I CALCULATE THE DRAKE CRUSHING, AND SHAWN TADLOCK, I DON'T KNOW WHY THESE ANSWER IS IN CORRECT?
Exercise 8-2 Effect of accounting events on the financial statements of a partnership LO 8-1, 8-2 Drake Cushing and Shawn Tadlock started the CT partnership on January 1, 2014. The business acquired $44,400 cash from Cushing and $66,600 from Tadlock. During 2014, the partnership earned $67,100 in cash revenues and paid $36,400 for cash expenses. Cushing withdrew $2,400 cash from the business, and Tadlock withdrew $3,000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business Prepare a balance sheet for the CT partnership for the 2014 fiscal year. Answer is complete but not entirely correct. CT PARTNERSHIP Balance Sheet As of December 31, 2014 Assets Cash $ 136,300 $ 136,300 otal assets Liabilities Stockholders' Equity 54,520 81,780 Drake Cushing, Capital Shawn Tadlock, Capital Total stockholders' equity Total liabilities and stockholders equity 136,300 $ 136,300Step by Step Solution
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