Anne and Del started their partnership tailoring business on 04 March 2022. The total value...
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Accounting
Anne and Del started their partnership tailoring business on March The total value invested by both the partners are as follows: SupermanBatmanCash$$Accounts ReceivablesRaw Material SuppliesEquipmentComputerLandAccounts PayableMortgage payables During the year, Anne withdrawn $ and Del made a withdrawal of $ The net profit for the year stands to $ and is to be distributed among the partners based on their contribution.Requirements: Prepare journal entries for recording the investments by both the partners Journalize the withdrawals for both partners Close the income summary and drawing accounts with T accounts and closing entries
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