Question
Need help solving this. I looked at the answer but wanted to know how to solve it. Thank you Partner A had a beginning capital
Need help solving this. I looked at the answer but wanted to know how to solve it. Thank you
Partner A had a beginning capital balance of $120,000, invested an additional $30,000 on May 1st, and withdrew $21,000 on September 1st. If drawings in excess of $6,000 have to be closed in partners' capital, what is Partner A's weighted average capital balance for the year?
Answer: 135000
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Advanced Financial Accounting
Authors: Theodore Christensen, David Cottrell, Cassy Budd
12th Edition
1260165116, 9781260165111
