Question: Using the data provided, how much is Cooper's ending capital, which would be found on the Balance Sheet, after preparing the partner's Capital Statement?
Using the data provided, how much is Cooper's ending capital, which would be found on the Balance Sheet, after preparing the partner's Capital Statement? Additional Data: Drawing Cooper $15,000 Davis $10,000 Edwards -0- Part A. Net Income $100,000 - Problem A Distribution of Net Income $100,000 Cooper Davis Edwards TOTAL Salary 20,000 15,000 0 35,000 10% Interest on Beg Cap 4,000 6,000 8.000 18,000 Bal Total Salaries and Interest 24,000 21,000 8,000 53,000 Remaining Income 47,000 18,800 9,400 18,800 47,000 Total Division of Net 42,800 30,400 26,800 100,000 Income
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