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P 12–2

14 August, 2015 - 17:32
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Refer to P 12–1.

Required: Prepare the equivalent statement of partners’ capital at December 31, 2016 assuming that the partnership is instead:

  1. A proprietorship owned by B. White. (Combine C. Green balances and transactions with those of B. White.)
  2. A corporation named BW and CG Ltd. with 100 common shares issued to each of B. White and C. Green for a stated value of $1 per share. Assume opening retained earnings equal $29,800 and that 20,000 common shares were issued during 2016 for a stated value of $1 per share.
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