what was the ending balance in each of their capital accounts on December 31, 2017?

Sports Central is a sporting goods store owned by Lewis, Jamal, and Lapin in partnership. On January 1, 2017, their capital balances were as follows: Lewis, Capital …………………$20,000 Jamal, Capital …………………..50,000 Lapin, Capital …………………..30,000 During 2017, Lewis withdrew $5,000; Jamal, $12,000; and Lapin, $9,000. Income for the partnership for 2017 was $50,000. Required If the partners agreed to allocate income equally, what was the ending balance in each of their capital accounts on December 31, 2017? View Solution:
Sports Central is a sporting goods store owned by Lewis

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