Drake Cushing and Shawn Tadlock started the CT partnership on January 1, 2014. The business...
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Drake Cushing and Shawn Tadlock started the CT partnership on January 1, 2014. The business acquired $37,760 cash from Cushing and $80,240 from Tadlock. During 2014, the partnership earned $63,700 in cash revenues and paid $29,550 for cash expenses. Cushing withdrew $3,900 cash from the business, and Tadlock withdrew $5,100 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
Income statement, capital statement, statement cash flow
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