Answered: Partners' capital balances reflect the…

Partners' capital balances reflect the cumulative effect of a. Initial Capital b. Additional capital c. Share in profit d. share in loss e. drawings f. all of the above g. a, b, c, and d only

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter23: Accounting For Partnerships

Section23.2: Distribution Of Net Income And Owners’ Equity Statements

Problem 2AYU

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Question

Partners' capital balances reflect the cumulative effect of

a. Initial Capital

b. Additional capital

c. Share in profit

d. share in loss

e. drawings

f. all of the above

g. a, b, c, and d only

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