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Compute and show entry to allocate net income to partners

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Reference no: EM132717215

December 31, 2018 - The business recorded a net income of $30,000. Rodgers had drawings of $20,000 and Brady had drawings of $4,000.

Required:

Problem a. Show the entry to allocate the net income to the partners' capital accounts

Problem b. Prepare a Statement of Partners' Equity for 2018.

Reference no: EM132717215

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