FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The total column of the Partners' Capital Statement for Vaughn Company is as follows: Capital, January 1 $599000 Additional investment 234000 Drawings 350000 Net income

The total column of the Partners' Capital Statement for Vaughn Company is as follows:

Capital, January 1 $599000
Additional investment 234000
Drawings 350000
Net income 730000

The partnership has three partners. The first two partners have ending capital balances that are equal. The ending balance of the third partner is half of the ending balance of the first partner. What is the ending capital balance of the third partner?

$262800

$289000

$189800

$242600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions

Question

Events occur according to a Poisson process with rate . Any event that occurs within a time d of the event that immediately preceded it is called a d-event. For instance, if d = 1 and events occur at...

Answered: 1 week ago

Question

★★★★★
Mary Palmquist, a Wall Street securities analyst, wants to determine the relationship between Chile's gross domestic product (GDP) and the profits (after taxes) of the Carlton Company. She obtains...

Answered: 1 week ago

Question

★★★★★
Please answer the second part of the question: CIA Profit in Yen Kamada: CIA Japan (A). Takeshi Kamada, a foreign exchange trader at Credit Suisse (Tokyo), is exploring covered interest arbitrage...

Answered: 1 week ago

Question

★★★★★
The In-Tech Co. just paid a dividend of $1 per share. Analysts expect its dividend to grow at 25 percent per year for the next three years and then 5 percent per year thereafter. If the required rate...

Answered: 1 week ago

Question

★★★★★
Exercise 3-17 (Algo) Preparing Financial Statements LO P5 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the year ended...

Answered: 1 week ago

Question

★★★★★
4.12 Consider the following mechanism for the production of ozone from the heating of oxygen: mols magorbyd or lo no Inopnop and atA -rigid Kf mainedos doivoblas kir 0302+0 to noisot (R.1) C (R.2)...

Answered: 1 week ago

Question

★★★★★
3. Construct the shear force and bending moment diagrams for the beam shown below. 20 kips 12 kips 1.5 kips/ft B C E D 6ft 8 ft 10 ft- -8 ft-

Answered: 1 week ago

Question

★★★★★
home seeker lindsay wants to increase her credit score so she can qualify for a conventional loan at a lower interest rate. To do this, Lindsay needs to focus on several factors that go into...

Answered: 1 week ago

Question

★★★★★
Most married couples view the early years of marriage as O deeply satisfying O the most stressful period of their relationship O a "trial period," to see if they want to stay together confusing, and...

Answered: 1 week ago

Previous Question Next Question