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Falth Busby and Jeremy Beally started the partnership on January 1, Year 1. The business...

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Accounting

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Falth Busby and Jeremy Beally started the partnership on January 1, Year 1. The business acquired $88.400 cash from Busby and $171,600 from Beatty. During Year, the partnership earned $63,900 in cash revenues and paid $37050 for cash expenses. Busby withdrew $2,100 cash from the business and Beatty 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. Required Prepare an income statement, capital statement, balance sheet, and statement of cash flows for B&B's Year 1 fiscal year Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare an income statement for B&B's Year 1 fiscal year, B&B PARTNERSHIP Income Statement For the Year Ended December 31, Year 1 $ 0 Inconelament Capital Statement >

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