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helpp 1. The following information is for Partner A. Find the ending of eapital, A (10 points). - Beginning capital balance: $1,000 - Drawing limit:
helpp
1. The following information is for Partner A. Find the ending of eapital, A (10 points). - Beginning capital balance: $1,000 - Drawing limit: $4,000 - Actual drawing: $7,000 - New contribution: $2,000 - Income allocation from the partnership: $9,000 - Salary: $3.000 2. A partnership has the following accounting amounts: \begin{tabular}{l|l} (1) Sales $60.000 \\ (2) Cost of Goods Sold \end{tabular} (2) Cost of Goods Sold =$40.000 (3) Operating Expenses =$10,000 (4) Salary allocations to partners =$13,000 (5) Interest paid to banks =$2,000 (6) Partners' withdrawals =$8.000 (6) Partners' withdrawals =$8.000 Partnership net income (loss) is (10 points) Step by Step Solution
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