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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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