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For Blossom Co., beginning capital balances on January 1, 2020, are Deepika Kapoor INR18,700 and Kareena Dutt INR16,200 (amounts in thousands). During the year,
For Blossom Co., beginning capital balances on January 1, 2020, are Deepika Kapoor INR18,700 and Kareena Dutt INR16,200 (amounts in thousands). During the year, drawings were Kapoor INR8,500 and Dutt INR5,100. Net income was INR29,400, and the partners share income equally. (a) Your answer is correct. Prepare the partners' capital statement for the year. (List items that increase partners' capital first.) ital, January 1 Net Income/(Loss) Drawings BLOSSOM CO. Partners' Capital Statement For the Year Ended December 31, 2020 D.Kapoor INR 18700 INR ital, December 31 INR (b) 14700 33400 8500 i 24900 INR K. Dutt Prepare the equity section of the statement of financial position at December 31, 2020. BLOSSOM CO. Partial Statement of Financial Position For the Year Ended December 31, 2020 INR 16200 INR 14700 30900 5100 i INR Total 349 294 643 13600 25800 INR 507
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