What was the ending balance in each of their capital account, Accounting Basics

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What was the ending balance in each of their capital account

Water Sports is a surf shop owned by Brad, Nicci, and Corey in partnership. On January 1, 2012, their capital balances were as follows:

Brad, Capital $30,000
Nicci, Capital $60,000
Corey, Capital $40,000

During 2012, Brad withdrew $10,000, Nicci, $20,000; and Corey, $15,000. Income for the partnership for 2012 was $75,000.If the partners agreed to allocate income equally, what was the ending balance in each of their capital accounts on December 31, 2012?

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Accounting Basics: What was the ending balance in each of their capital account

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Accounting Basics: What was the ending balance in each of their capital account

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Request for Solution File

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Accounting Basics: What was the ending balance in each of their capital account

Reference No:- TGS0688834

Recent Questions Asked Accounting Basics

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