The Rubble-Flintstone Company Was Started on January 1,2016 as a Partnership.The

question 36

Essay

The Rubble-Flintstone Company was started on January 1,2016 as a partnership.The initial investments from the two partners were $50,000 from Rubble and $30,000 from Flintstone.During 2016,Rubble-Flintstone Company earned $70,000 in cash revenue,paid $42,000 in cash expenses and the partners withdrew $5,000 each for their personal use.The partnership agreement calls for equal sharing of net income or loss.Using only the above information,prepare an income statement,a capital statement,and a balance sheet for the Rubble-Flintstone Company.

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Definitions:

Own Goals

Own Goals refer to objectives or targets that an individual sets for themselves, emphasizing personal accountability and motivation.

Subordinates

Individuals who report to a superior or higher-ranking personnel in a hierarchical structure.

Communication Behaviors

Actions and practices related to how information is conveyed and received between individuals or groups, including verbal and non-verbal communication.

Group Project

A task or assignment worked on by several individuals with a common goal, requiring teamwork, collaboration, and often, leadership to ensure successful completion.