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Partner bonuses, statement of partnership equity The partnership of Angel Investor Assoclates began operations on January 1, 20r5, with contributions fram two parthers as follows:
Partner bonuses, statement of partnership equity The partnership of Angel Investor Assoclates began operations on January 1, 20r5, with contributions fram two parthers as follows: The following additional partner transactions took place during the year: 1. In early January, Randy Campbeil is admitted to the parthership by contributing $30,380 cash for a 14% interest. 2. Net income of $280,000 was earned in 20Y5. In addition, Dennis Overton receivod a salary allowance of $60,000 for the yeac. The three partners agree to an incorriesharing ratio equal to their capital balances after admitting Campbeli. 3. The partners' withidrawals are equal to haif of the increase in their capital balances from salary allowance and income. Preoare a statement of parthershp equity for the year ended December 31,20y5. If an amount box does not require an entry, leave it blark
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