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Alford, Beeson, and Cariton have operated a coffee shop for a number of years as...

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Accounting

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Alford, Beeson, and Cariton have operated a coffee shop for a number of years as a partnership. At the beginning of 2024, capital balances were as follows: Due to a cash shortage, Alford invests an additional \$14,000 in the business on April 1, 2024. Each partner is allowed to withdraw $1,000 cash each month. The partners have used the same method of allocating profits and losses since the business's inception: - Each partner is given the following compensation allowance for work done in the business: Alford, $10,000; Beeson, $20,000, and Cartion, $6.000. - Each partner is credited with interest equal to 20 percent of the average monthly capital balance for the year without regard for normal drawings. - Any remaining profit or loss is allocated 3:25 to Alford, Beeson, and Cariton, respectively, The net income for 2024 is $30,000. Each partner withdraws the allotted amount each month. Required: Prepare a schedule showng calculations for the partners' 2024 ending capital balances. Note: Amourts to be deducted should be indicated with minus sign

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