6) Olivia Greer is a partner in Made for You. An analysis of Greer's capital account indicates that during the most recent year, she withdrew $30,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year? A) $180,000 B) $170,000 C) $196,000 D) $154,000 E) $186,000

7) A partnership recorded the following journal entry: Cash 60,000 B. Founder, Capital 10,000 R. Aqui, Capital 10,000 H. Joiner, Capital 80,000 This entry reflects: A) Addition of a partner who pays a bonus to each of the other partners. B) Withdrawal of $10,000 each by Founder and Aqui upon the admission of a new partner. C) Withdrawal of a partner who pays a $10,000 bonus to each of the other partners. D) Acceptance of a new partner who invests $60,000 and receives a $20,000 bonus. E) Additional investment into the partnership by Founder and Aqui.

8) Wright, Bell, and Edison are partners and share income in a 2:5:3 ratio. The partnership's capital balances are as follows: Wright, $33,000, Bell $27,000 and Edison $40,000. Edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon Edison's retirement. The journal entry to record Edison's June 1 withdrawal from the partnership if Edison sells his interest to Whitney for $45,000 after the other two partners approve Whitney as partner is: A) Debit Edison, Capital $40,000; debit Cash $5,000; credit Whitney, Capital $45,000. B) Debit Edison, Capital $45,000; credit Whitney, Capital $45,000. C) Debit Edison, Capital $40,000; credit Cash $40,000. D) Debit Edison, Capital $40,000; debit Wright, Capital $2,500; debit Bell, Capital $2,500; credit Whitney, Capital $45,000. E) Debit Edison, Capital $40,000; credit Whitney, Capital $40,000.

9) Masters, Hardy, and Rowen are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Masters, $15,000; Hardy, $15,000; Rowen, ($2,000). After all the assets are sold and liabilities are paid, but before any contributions to cover any deficiencies, there is $28,000 in cash to be distributed. Rowen pays $2,000 to cover the deficiency in his account. The general journal entry to record the final distribution would be: A) Debit Cash $28,000; debit Rowen, Capital $2,000; credit Masters, Capital $15,000; credit Hardy, Capital $15,000. B) Debit Masters, Capital $9,334; debit Hardy, Capital $9,333; debit Rowen, Capital $9,333; credit Cash $28,000. C) Debit Masters, Capital $15,000; debit Hardy, Capital $15,000; credit Cash $30,000. D) Debit Masters, Capital $15,000; debit Hardy, Capital $15,000; credit Rowen, Capital $2,000; credit Cash $28,000. E) Debit Masters, Capital $14,000; debit Hardy, Capital $14,000; credit Cash $28,000.