For Pharoah Co., beginning capital balances on January 1, 2022, are Nancy Payne $23,300 and Ann Dody $22,500. During the year, drawings were Payne $7,600 and Dody $5,700. Net income was $31,800, and the partners share income equally. (a) Attempt in Progress (b) Prepare the owners' equity section of the balance sheet at December 31, 2022. PHAROAH CO. Partial Balance Sheet December 31, 2022

For Pharoah Co., beginning capital balances on January 1, 2022, are Nancy Payne $23,300 and Ann Dody $22,500. During the year, drawings were Payne $7,600 and Dody $5,700. Net income was $31,800, and the partners share income equally. (a) Attempt in Progress (b) Prepare the owners' equity section of the balance sheet at December 31, 2022. PHAROAH CO. Partial Balance Sheet December 31, 2022

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Attempt in Progress
For Pharoah Co., beginning capital balances on January 1, 2022, are Nancy Payne $23,300 and Ann Dody $22,500. During the year, drawings were Payne $7,600 and Dody $5,700. Net income was $31,800, and the partners share income
equally.
(a)
(b)
Prepare the owners' equity section of the balance sheet at December 31, 2022.
eTextbook and Media
PHAROAH CO.
Partial Balance Sheet
December 31, 2022

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