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(Part A, Part B, and Part C) Hello If anyone can help me with this three part problem that I don't seem to get that
(Part A, Part B, and Part C) Hello If anyone can help me with this three part problem that I don't seem to get that would be greatly appreciated and if you can make sure it's correct.Thanks again
Part A
Part B
Part C
Mary Jessica's capital statement reveals that her drawings during the year were $ 49500. She made an additional capital investment of $ 24000 and her share of the net loss for the year was $ 10600. Her ending capital balance was $ 203000. What was Jessica's beginning capital balance? O $ 239100 O $ 263100 O $ 228500 O $ 189600 The partnership agreement of Ashford and Cohen provides for salary allowances of $ 89600 to Ashford and $ 70200 to Cohen, with the remaining income or loss to be divided equally. During the year, Ashford and Cohen each withdraw cash equal to 85% of their salary allowances. If partnership net income is $ 201000, Ashford's equity in the partnership would O decrease more than Cohen's. O increase more than Cohen's. O increase the same as Cohen's. O decrease the same as Cohen's. Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Granger, Noble, and Finn, respectively. Assets Liabilities and Owner's Equity Cash Accounts payable $ 52100 $ 125300 Accounts Granger, Capital 137200 receivable 131600 Noble, Capital 47100 Inventory Finn, Capital 437800 311900 $ 621500 $ 621500 Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $ 359100. As a result, one of the partners has a capital deficiency which that partner decides not to repay. The amount of cash that would ultimately be distributed to Finn would be $ 227780. O $ 143200. O $203100. O $ 311900Step by Step Solution
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