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Show the entry to allocate net income to partners capital

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Reference no: EM132711168

December 31, 2017 - The business recorded a net income of $27,000, and Rodgers had a debit balance of $16,000 in his drawings account.

Required:

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

Problem b. Prepare a Statement of Partners' Equity for 2017 show the work

Reference no: EM132711168

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