QuestionSteward Partnership had the following Balance Sheet… Steward Partnership had the following Balance SheetAssetsLiabilities&CapitalCash $1,200Mortgage$2,000Bldg$3,800 Stock 600Capital – A $2,100 Bonds 600Capital – B 2,100 Total 6,200Total 6,200Operations during the year – The building is depreciate over 10 years using straight-line depr. During the year Steward had $120 dividend income and net rental income of $300 (Rental Income of $680 – $380 depr). The value of the stock increased to $750. Steward paid $150 of principal towards the loan and made a distribution of $750 to Partner A and the stock to Partner B.Prepare Stewardbalance sheet after taking into consideration all of the operations during the year.LawSocial ScienceTax law TAX 736
solved : QuestionSteward Partnership had the following Balance Sheet.
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