FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jon wink stated the year with a capital balance of $135000. During the year his share of partnership net income was 120000 and he withdrew

Jon wink stated the year with a capital balance of $135000. During the year his share of partnership net income was 120000 and he withdrew 22500 from the partnership for personal use. He made an additional capital contribution of 37500 during the year.The amount of jon Wineks capital balance that will be reported on the year end balance sheet will be what??

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Integrated Accounting For Windows

Integrated Accounting For Windows

Authors: Dale A. Klooster, Warren Allen

5th Edition

0324312490, 9780324312492

More Books

Students also viewed these Accounting questions

Question

★★★★★
What are the various ways that credibility can be established in qualitative analysis?

Answered: 1 week ago

Question

★★★★★
Supply-chain management involves long-term partnerships among channel members that are working together to reduce inefficiencies, costs, and redundancies and to develop innovative approaches to...

Answered: 1 week ago

Question

★★★★★
Psychological issues associated with officiating/refereeing

Answered: 1 week ago

Question

★★★★★
Using smoothing constants of 0.6 and 0.9 develop forecasts for the sales of Cool-Man air conditioners. Data from Sales of Cool-Man air conditioners have grown steadily during the past 5 years: YEAR...

Answered: 1 week ago

Question

★★★★★
Exercise 4-4 Recording entries for merchandise purchases LO P1 Apr. 2 Purchased merchandise from Lyon Company under the following terms: $4,600 price, invoice dated April 2, credit terms of 2/15,...

Answered: 1 week ago

Question

★★★★★
which of the following is one of the types OF adjusting entries

Answered: 1 week ago

Question

★★★★★
Describe in detail the three main assumptions for parametric testing.

Answered: 1 week ago

Question

★★★★★
Which information is required to calculate the Total Amount of Insurance Needed in the Financial Needs Analysis (FNA) section? i. Death Amount, Passive Income, Mortgage Balance ii. Mortgage Balance,...

Answered: 1 week ago

Question

★★★★★
An electronic store sells particular model of a laptop computer. There are only six laptops in stock, and the manager wonders what daily demand for this particular model will be. She learns from the...

Answered: 1 week ago

Question

★★★★★
Suppose that, in each period, the cost of a security either goes up by a factor of u = 2 or down by a factor d = 1/2. Assume the initial price of the security is $100 and that the interest rate r is...

Answered: 1 week ago

Question

★★★★★
Sarik was surprised by how many conversations it took to make a deal with CorpCo. What pitfall did Sarik experience?

Answered: 1 week ago

Question

★★★★★
A greater tendency to create winwin situations.

Answered: 1 week ago

Question

★★★★★
Improving creative problem-solving ability.

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: (a) A circle becomes a straight line when viewed on a very small scale. (b) Breaking patterns creates change.

Answered: 1 week ago

Previous Question Next Question