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 y 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. Use a negative sign with your answers to indicate a reduction to a balance.

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/$115,500/557,750, respectively Prepare the Statement of Partners Capital for the year Use a negative sign with your answers to indicate a reduction to a balance Statement of Partners Capital Capital account, beginning of year Capital contribution Withdrawa Salary interest Allocation of remaining profic Total Check