Tyson Tapestries is an unincorporated partnership formed by Brenda Tyson, Rhonda Lentil, and Constance Cummings. They contributed initial capital of $90,000, $60,000 and $40,000 respectively. During the year Brenda contributed an additional $10,000 and withdraw $15,100 from her capital account. Net income was $129,600 and income is distributed to the partners in the ratio of their capital contributions.

Required 1: What is the balance of the equity account of Brenda Tyson in the year end financial statements? $

Required 2: What is the balance of the capital account of Rhonda Lentil in the year end financial statements? $

Required 3: What is the balance of the capital account of Constance Cummings in the year end financial statements? $

pur-new-sol

Related Questions