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
