Use the following account balance information for Creekville Partnership to answer the Income ratios are 2:4:4 for Harriet, Mike, and Elly, respectively.
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Liabilities and Owners” Equity |
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Cash |
$9,000 |
Accounts payable |
$21,000 |
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Accounts receivable |
22,000 |
Harriet, capital |
23,000 |
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Inventory |
73,000 |
Mike, capital |
8,000 |
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$104,000 |
Elly, Capital |
52,000 |
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$104,000 |
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