Prepare statement of partners capital Assume that there are three partners in a partnership, A, B, and C. Partners A and B each began the year with a capital account of $500,000. Partner C was admitted to the partnership during the year with a capital contribution of $300,000. The Partnership Agreement provides for a salary to Partner C of $50,000 and interest on the respective Capital Accounts of $25,000/$25,000/$11,250, respectively. During the year, the partners withdrew $20,000/$20,000/$10,000 and the allocation of profit was $115,500/$115,500/$57,750, respectively. Prepare the Statement of Partners Capital for the year.

Fill in each space that says "Answer":

	A	B	C	Total
Statement of Partners' Capital:
Capital account, beginning of year	Answer	Answer	Answer	Answer
Capital contributions	Answer	Answer	Answer	Answer
Withdrawals	Answer	Answer	Answer	Answer
Salary	Answer	Answer	Answer	Answer
Interest	Answer	Answer	Answer	Answer
Allocation of remaining profit	Answer	Answer	Answer	Answer
	Answer	Answer	Answer	Answer