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question 2 Drawings using the following information compete tables and make appropriate journal entries the partnership had the following balance as of Jan 1st. Capital
question 2 Drawings using the following information compete tables and make appropriate journal entries the partnership had the following balance as of Jan 1st. Capital Partner 150,000 Partner D 250,000 a) during the year (mar 1st) partner C invested a further 50,000 into the business. make the appropriate journal entry Date Description DR CR b) at year end, (Dec 31st) the partners made the following withdrawals dravings Partner 20, 000 Partner D 15, 000 Date Description DR CR c) make the appropriate year adjustment to close the drawings account Date Description DR CR d) complete the following table to determine the new capital balance the company made $80, 000 net income all profits are split equally Partner Partner D Opening balance investments drawings Net income closing balance
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