The Mayer and Rodin partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $390,000 for Mayer and $202,000 for Rodin. At the beginning of the year, Mayer’s Capital account had a balance of $792,000, while Rodin’s ' Capital account had a balance of $707,000. Net income for the year was $503,000. The balance of Rodin’s Capital account at the end of the year after closing is:

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Answer 864500 Working The balance of Rodins capital acc... View the full answer