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Curly, Larry and Moe formed a partnership that provides residential plumbing services. The business has a December 31 year end. At the beginning of
Curly, Larry and Moe formed a partnership that provides residential plumbing services. The business has a December 31 year end. At the beginning of the year, the opening balance in Curly's capital account was $160,500, Larry's opening capital balance was $321,000 and Moe's opening capital balance was $240,750. The business reported a net income of $418,700. Their partnership agreement provided for sharing of net income (loss) on the following basis: 1. Salary allocation of $113,100 to Curly, $61,900 to Larry and $72,800 to Moe 2. Remainder shared where Curly gets 20%, Larry gets 15% and Moe gets 65%. Prepare a table showing changes in the partners' capital during the year. Do not enter dollar signs or commas in the input boxes. Do not enter use the negative sign in your answers. Round your answers to the nearest whole number. Net Income Salaries Remainder Share of remainder Transferred to partner's capital Total Curly Larry Moe
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