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NeTakaya
3 years ago
15

Sadie and Sam share income equally. For the current year, the partnership net income is $40,000. Sadie made withdrawals of $14,0

00 and Sam made withdrawals of $15,000. At the beginning of the year, the capital account balances were: Sadie, Capital, $42,000; Sam, Capital, $58,000. Sam's capital account balance at the end of the year is____________.
Business
1 answer:
4vir4ik [10]3 years ago
8 0

Answer:

Explanation:

Beginning capital balance(Sam)  $58000

+ Currnt year income ( $40000 / 2 = $20000) $20000

[Devide by 2 because they share income]

- Sam's withdrawal  ($15000)

Sam's capital balance = 58000+20000-15000 = $63000

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