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vitfil [10]
3 years ago
7

Brief Exercise 163 Southern Skiles Co. had beginning capital balances on January 1, 2020, as follows: Patty Sharp $30,000 and Ji

m O'Connor $25,000. During the year, drawings were Sharp $15,000 and O'Connor $8,000. Net income was $40,000, and the partners share income equally Prepare the partners' capital statement for the year.
Business
1 answer:
JulijaS [17]3 years ago
4 0

Answer:

The partners' capital statement is hereby attached.

Explanation:

I started with opening capital balance ,then added each partner's share of profit for the year and finally  I deducted the drawings by partners in the year to arrive at closing capital account balance.

Download xlsx
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Suppose the U.S. economy is initially at long run equilibrium, when there is an unexpected large increase in the price of steel
dimulka [17.4K]

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The price hike in the price of steel would cause an inflationary push in the U.S. economy, because steel is a input to the production processes of many firms.

In this scenario, the fed would lower the money supply in order to stop the inflationary push from continuing. To do so, the fed would sell government securities.

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Who was the 3rd overall pick in the 2020 nba draft and what team selected him?
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Historically, the best asset for the long-term investor wanting to fend off the threats of inflation and taxes while making his
OlgaM077 [116]

Answer:

Stocks

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5 0
3 years ago
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Lana71 [14]

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