Question
Coburn (beginning capital, $57,000) and Webb (beginning capital $82,000) are partners. During 2022, the partnership earned net income of $70,000, and Coburn made drawings of
Coburn (beginning capital, $57,000) and Webb (beginning capital $82,000) are partners. During 2022, the partnership earned net income of $70,000, and Coburn made drawings of $16,000 while Webb made drawings of $21,000.
(d) Compute the partners ending capital balances under the assumption in part (c) above.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
