The A and B partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $80900 for A and $40100 for B. At the beginning of the year, A's capital account had a balance of $79300, while B's capital account had a balance of $71000. Profit for the year was $96000. The balance of B's capital account at the end of the year after closing is $40100. $121000. $68400. $98600.

The A and B partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $80900 for A and $40100 for B. At the beginning of the year, A's capital account had a balance of $79300, while B's capital account had a balance of $71000. Profit for the year was $96000. The balance of B's capital account at the end of the year after closing is $40100. $121000. $68400. $98600.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter19: Accounting For Partnerships

Section: Chapter Questions

Problem 3CE

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Current Attempt in Progress
The A and B partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $80900 for A
and $40100 for B. At the beginning of the year, A's capital account had a balance of $79300, while B's capital account had a balance of
$71000. Profit for the year was $96000. The balance of B's capital account at the end of the year after closing is
$40100.
$121000.
$68400.
Ⓒ$98600.

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