Jon and Ruth share income equally. For the current year, th…
Jon and Ruth share income equally. For the current year, the partnership net income is $40,000. Jon made withdrawals of $14,000, and Ruth made withdrawals of $15,000. At the beginning of the year, the capital account balances were Jon, capital, $42,000; Ruth capital, $58,000. Ruth’s capital account balance at the end of the year is
Read Details