Three Sisters' Catering operates as a partnership.When they formed the business, two of the sisters, Abby and Edie, each contributed $10,000 cash.The third sister, Susan, contributed cookware and dishes worth
$6,000.All the meal preparation is done in Susan's kitchen, and the office is located in her basement.They agreed to split the profits evenly between the three of them.During the first year the business made $15,000 profit, and as agreed, none of them withdrew money in the first year.In the second year, which ended April 30,
2014, the business made $48,000 and the partners paid themselves the following wages: Abby $10,000, Edie
$12,000 and Susan $8,000.
Required:

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The Answer of Three Sisters' Catering operates as a partnership.When they formed the business, two of the sisters, Abby and Edie, each contributed $10,000 cash.The third sister, Susan, contributed cookware and dishes worth
$6,000.All the meal preparation is done in Susan's kitchen, and the office is located in her basement.They agreed to split the profits evenly between the three of them.During the first year the business made $15,000 profit, and as agreed, none of them withdrew money in the first year.In the second year, which ended April 30,
2014, the business made $48,000 and the partners paid themselves the following wages: Abby $10,000, Edie
$12,000 and Susan $8,000.
Required:

Three Sisters' Catering Operates as a Partnership