2 Prepare Magda and Sue's capital account balances as of Dec 31 based on the following additional information. Journalize capital contributions, drawings and closing the drawings account 3 4 Beginning Capital Balances - Jan 1 5 Additional investment 6 Withdrawls 7 8 9 10 Additional investment 11 Net Income 12 Withdrawls 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Beginning Capital Balances Ending Capital Balances Date Dec. 31 Dec. 31 Dec. 31 Account Title To record investment by partner ▼ To record withdrawl by partner To close partner drawings account Magda 147,000.00 125,000.00 12,000.00 0.00 0.00 4,000.00 Magda Debit Sue Sue Credit Total Account Title: Cash Income Summary Magda, Capital Sue, Capital Magda, Drawings Sue, Drawings

Q: can you include the arranged table of it? i have trouble on it. Thanks!

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Q: Could you please finish the remaining questions?

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Q: What is simple interest

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A: The question is the threaded question in which the student is asking about formulas.

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Q: on the problem.

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A: Formulae used:

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A:

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Q: Can you please provide the calculations that you used.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is