Baldwin and Tanner Formed a Partnership

question 68

Essay

Baldwin and Tanner formed a partnership.Baldwin's initial capital account balance was $125,000 and Tanner's was $105,000.They agreed to share income and loss as follows: Baldwin 40%,Tanner 60%.Income was $102,000 in year 1 and $150,000 in year 2.Assume they each withdrew $10,000 per year.Calculate the capital balances for Baldwin and Tanner at the end of year 2.

---

Definitions:

Moral Reasoning

The process by which individuals think about and determine right from wrong.

Child's Level

Child's level refers to the developmental stage or capacity of a child in various domains such as cognitive, emotional, and physical growth, considered in interaction or education.

Historical Figures

Individuals from the past who have had a significant impact on history due to their contributions or actions.

Organized Intervention

A planned action or series of actions aimed at influencing a situation or outcomes, often used in contexts of health, education, or social services.