FLY Company is a partnership owned by FuadLabeeb, and Yaser with capital balances of $40,000 35,000, and $ 50,000 respectively, on 31/12/2021, before closing the accounts of the year. For 2021the company had a bad year where revenues were $ 178,000, while total expenses were $200,000Alsoduring the year Labeeb withdrew 3.500 for personal use, and made no additional investments . The partnership agreement states the following concerning division of net income/loss: Salary allowances are given to partners as $10,00012,000 to Fuad and Labeeb respectively Then, a 5 interest is given on capital balances to all partners, with the remaining to be divided equally between partners. Calculate the ending capital balance for Labeeb on 31/12/2021 Note: write your answer as a number only with no commas or dollar signs.

Answer rating: 100% (QA)

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