Question
For Ped-Dan Co., beginning capital balances on January 1, 2018, are Nancy Padro $40,000 and Ann Daniels $36,000. During the year, drawings were Padro $16,000
For Ped-Dan Co., beginning capital balances on January 1, 2018, are Nancy Padro $40,000 and Ann Daniels $36,000. During the year, drawings were Padro $16,000 and Daniels $10,000. Net income was $80,000, and the partners share income equally. Instructions
(a) Prepare the partners capital statement for the year. (
b) Prepare the owners equity section of the balance sheet at December 31, 2018.
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Principles Of Accounting
Authors: Steven M. Bragg
1st Edition
1642210773, 978-1642210774
