Question: Please help value 300 points Drake cushing and Shawn Tadlock started the CT partnership on January 1, 2014 The business acquired $70,000 cash from Cushing
value 300 points Drake cushing and Shawn Tadlock started the CT partnership on January 1, 2014 The business acquired $70,000 cash from Cushing and $140,000 from Tadlock During 2014, the partnership earned $75,000 in cash revenues and paid $39,000 for cash expenses Cushing withdrew $2,000 cash from the business, and Tadlock withdrew $4,000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
