j

For National Co., beginning capital balances on January 1, 2017, are Nancy Payne $16,500 and Ann Dody $14,400. During the year, drawings were Payne $7,000 and Dody $6,000. Net income was $28,500, and the partner share income equally. (a) Your answer is partially correct. Try again. Prepare the partners' capital statement for the year. (List items that increase partners' capital first.) NATIONAL CO. Partners' Capital Statement For the Year Ended December 31, 2017 N. Payne A. Dody Total Capital, January 1 x Add Net Income / (Loss) x= x 10 Less Drawings Capital, December 31