Question
For National Co., beginning capital balances on January 1, 2017, are Nancy Payne $19,700and Ann Dody $17,100. During the year, drawings were Payne $7,200and Dody
For National Co., beginning capital balances on January 1, 2017, are Nancy Payne $19,700and Ann Dody $17,100. During the year, drawings were Payne $7,200and Dody $4,400. Net income was $25,300, and the partners share income equally.
(a)
Prepare the partners' capital statement for the year.
NATIONAL CO.
Partners' Capital Statement
N. Payne
A. Dody
Total
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
