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During 2012 brad withdrew 10000 nicci 20000 and corey 15000

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Water Sports is a surf shop owned by Brad, Nicci, and Corey in partnership. On January 1, 2012, their capital balances were as follows:

  • Brad, Capital $30,000
  • Nicci, Capital $60,000
  • Corey, Capital $40,000

During 2012, Brad withdrew $10,000, Nicci, $20,000; and Corey, $15,000. Income for the partnership for 2012 was $75,000.If the partners agreed to allocate income equally, what was the ending balance in each of their capital accounts on December 31, 2012?

Reference no: EM13583992

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