Homework Answers
a)
| Account title | Debit | credit |
| Cash | 41000 | |
| Brad Paulson, Capital [12000*1/2] | 6000 | |
| Drew Webster, Capital | 6000 | |
| Austin Neel, capital | 53000 |
**Since profit and losses are shared equally .
b)
| Balance | |
| Brad Paulson, Capital | 61000-6000=55000 |
| Drew Webster, Capital | 104000-6000=98000 |
| Austin Neel, capital | 53000 |
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