Question

Bray, Lincotty and ac advertising and other expenses. After collecting for c ess for a very dance. The agreed to share sales and paying creditors, the parties has 12.100 in cash the income one of the verwand Uncon d 70 of their respective to pay for Use the mission to indicate any deficiency for the capital accounts For those bones in which you must entertractive or negative numbers use a mission i net income and from the venue b. How should the money be distributed мере 270 capital balances and cash distribution 70 1 ,050 2.100 Assume that the partnership has only $1,110 instead of 12.100. Do any of the three partners have a capital defidency If so, how much?

Answer 1

c
Net loss	180	=780+510-1110
Yes, Mapes has a Capital deficiency
Amount of deficiency = $ 60
Capital balances:
Bray	450	=510-60
Lincoln	720	=780-60
Mapes	-60
Total	1110