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The partnership of Angel Investor Associates began operations on January 1, 20Y5, with contributions from two partners as follows: Dennis Overton Ben Testerman $56,160 120,640
The partnership of Angel Investor Associates began operations on January 1, 20Y5, with contributions from two partners as follows: Dennis Overton Ben Testerman $56,160 120,640 The following additional partner transactions took place during the year: 1. In early January, Randy Campbell is admitted to the partnership by contributing $31,200 cash for a 15% interest. 3. The partners' withdrawals are equal to half of the increase in their capital balances from salary allowance and income. Prepare a statement of partnership equity for the year ended December 31,20 Y5. If an amount box does not require an entry, leave it blank
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