D. Carson and F. Leggatt formed a partnership on June 1 to operate a shoe...
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D Carson and F Leggatt formed a partnership on June to operate a shoe store. Carson contributed $ cash and Leggatt contributed $ worth of shoe inventory. During the month of June, the following transactions took place: Additional shoc inventory was purchased at a cost of $ cash. Total cash sales for the month were $ The inventory that was sold had a cost of $ Carson withdrew $ of cash drawings. Leggatt withdrew only $ of cash drawings. The partnership borrowed $ from the Third National Bank. Land and a building were purchased at a cash cost of $ and $ respectively. Required: a Prepare a balance sheet as of June b Prepare a reconciliation of the beginning and ending balances for each owner's capital account. c Prepare a balance sheet as of June 
D Carson and F Leggatt formed a partnership on June to operate a shoe store. Carson contributed $ cash and Leggatt contributed $ worth of shoe inventory. During the month of June, the following transactions took place:
Additional shoc inventory was purchased at a cost of $ cash.
Total cash sales for the month were $ The inventory that was sold had a cost of $
Carson withdrew $ of cash drawings. Leggatt withdrew only $ of cash drawings.
The partnership borrowed $ from the Third National Bank.
Land and a building were purchased at a cash cost of $ and $ respectively.
Required:
a Prepare a balance sheet as of June
b Prepare a reconciliation of the beginning and ending balances for each owner's capital account.
c Prepare a balance sheet as of June
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