Smes and Abawihd Haener and Abela agree to accept Myra Samet into the partnership with a contribution of $140,000. The partnership's pooled net income was $465,000. They withdrew $8,000 cash from the partnership. Samet did not make any withdrawals. The balance before allocation was $190,000. The partnership activity from January 1, 2021, to December 31, 2021, is as follows:
October 10, 2022: $69,000
December 31, 2022: $62,000
January 2, 2023: $40,000
January 2, 2023: $59,000
January 2, 2023: $10,000
Abela: $20,000
Haener: $19,000
On October 10, 2020, Steven Haener and Sara Abela formed a partnership.
Partnership activity:
Accounts receivable (net)
Office furniture (net)
Cash payment
Accounts receivable (net)
Steven Haener Capital
Office furniture
Sarah Abela Capital
Cash