Question
Partner A has a beginning capital balance $10,000. Drawing limit is $5,000. Partner A withdraws $12,000 during the year and his new contribution to the
Partner A has a beginning capital balance $10,000. Drawing limit is $5,000. Partner A withdraws $12,000 during the year and his new contribution to the partnership is $3,000. Net income allocation to Partner A is $4,500. How much is the ending capital balance of Partner A?
a.9,000
b.10,500
c.17,500
d.5,500
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Financial And Managerial Accounting
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
4th Edition
1119752620, 978-1119752622
