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 $
The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year:
| Total partnership capital at beginning of the year | $ | 201,000 |
| Partnership net income for the year | $ | 171,000 |
| Withdrawals by partners during the year | $ | 99,000 |
| Additional investments by partners during the year | $ | 81,000 |
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.
Multiple Choice
Tracey = $99,400; Gregory = $110,400; Rodgers = $99,400.
Tracey = $141,600; Gregory = $70,800; Rodgers = $141,600.
Tracey = $220,800; Gregory = $110,400; Rodgers = $220,800.
Tracey = $68,400; Gregory = $34,200; Rodgers = $68,400.
Tracey = $118,000; Gregory = $118,000; Rodgers = $118,000.
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Global Financial Accounting And Reporting Principles And Analysis
Authors: Peter J. Walton, Walter Aerts
3rd Edition
1408062860, 9781408062869
