Nick foley 30000 and tom wenger 25000. during the year, Ask an Expert

Accounting

Debauge Co. had beginning capital balances on January 1, 2008, as follows: Nick Foley $30,000 and Tom Wenger $25,000. During the year, drawings were Foley $15,000 and Wenger $8,000. Net income was $50,000, and the partners share income equally. Prepare the partners capital statement for the year.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9404598

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