Question

The opening balance of partner capital account is used to calculated

Answer 1

Answer:

A partern's opening capital account balance generally equals the value of his contribution to the paternship -(i.e. cash plus the net value of any contributes property). Example: Partner A contributes $100 and a truck with a FMV of $50 to form the AB paternship

Answer 2

Answer:

1 interest on capital

2 interest on drawings

3 drawings

4 shares of loss.