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1.W is a partner in the equal WXYZ partnership. At the beginning of the year,...

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Accounting

1.W is a partner in the equal WXYZ partnership. At the beginning of the year, his basis in his partnership interest is $40,000. On Feb. 1, W takes a draw against earnings of $30,000. On June 1, the partnership pays off $60,000 of debt. On Sept. 1, W gets a distribution of cash of $30,000 that is not a draw against earnings. The partnerships income from the year is $200,000. What is the effect of each of these items on Ws basis?

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