Question
The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year: Total partnership capital at beginning of the year $210,000
The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year:
| Total partnership capital at beginning of the year | $210,000 |
| Partnership net income for the year | $180,000 |
| Withdrawals by partners during the year | $90,000 |
| Additional investments by partners during the year | $90,000 |
There are three partners in TGR Enterprises: Tracey, Gregory and Rodgers. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.
a. Tracey = $228,000; Gregory = $114,000; Rodgers = $228,000.
b. Tracey = $156,000; Gregory = $78,000; Rodgers = $156,000.
c. Tracey = $106,000; Gregory = $114,000; Rodgers = $106,000.
d. Tracey = $130,000; Gregory = $130,000; Rodgers = $130,000.
e. Tracey = $72,000; Gregory = $36,000; Rodgers = $72,000.
please show work.
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