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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
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