Alex, Brad, and Carl are partners. The profit and rule sharing rule between them

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January 12th, 2018

Alex, Brad, and Carl are partners. The profit and rule sharing rule between them is 4:3:3 in the alphabetical order. The partnership incurs a net loss of $100,000. Before preparing the closing journal entry the:Carl, Capital account will have a debit balance of $30,000.Alex, Capital account will have a debit balance of $40,000.Income Summary account will have a debit balance of $100,000.Alex, Capital account will have a credit balance of $40,000.

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