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On january 1st susan and roman formed a partnership called

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On January 1st, Susan and Roman formed a partnership called Research Consultants. Each partner invested $50,000 cash on that date. The partnership agreement stated that the partners would share net income or loss equally.

  • During the year, Susan invested an additional $2000 and withdrew $7,500 for personal use.
  • Roman invested an additional $1,500 and withdrew $8,500. The net income for the first year was $33,176.

Instructions:

Prepare a Statement of Partner's Equity as of December 31.

Reference no: EM13597167

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