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Mary and Scott formed a partnership that maintains its tecords on a calendar-year basis. The belence shetet of the MS Parthership at year-end is as
Mary and Scott formed a partnership that maintains its tecords on a calendar-year basis. The belence shetet of the MS Parthership at year-end is as fohows. At the end of the current year, Kani wal receive a ane-third capital interest only in exchange for services rendered. Karis interest will not be subject to a substantial tisk of forfeiture. and the costs for the type of rervices sne provided aro. typically not copitalized by the partnership. For the current year, the income and expenses from operabis are equal. Consequently, the only tax consequences for the year are those relating to the edmiss on of Kari to the partnership, fleave no answer biank. Enter tero if applicable. Do not round intermediate caicutations.) c. Prepere a balance sheot of the partnership immediately after Kari's admission showing the porthers' sax eapital accounts and capital accounts stated at fair market volue
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