Linda and Michael are partners in a restaurant. Linda initially invested ?400,000 and Michael ?500,000....
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Accounting
Linda and Michael are partners in a restaurant. Linda initially invested ?400,000 and Michael ?500,000. During the year, they made additional investments: Linda ?30,000 and Michael ?20,000. The restaurant incurred a net loss of ?50,000, shared based on their original capital contributions.
Initial Capital: Linda ?400,000, Michael ?500,000.
Additional Investments: Linda ?30,000, Michael ?20,000.
Net Loss: ?50,000, shared as per initial capital.
Compute the ending capital balances.
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