Question: Franco and Elisa share income equally During the current year

Franco and Elisa share income equally.  During the current year the partnership net income was $40,000.  Franco made withdrawals of $12,000 and Elisa made withdrawals of $17,000.  At the beginning of the year, the capital account balances were: Franco capital, $42,000; Elisa capital, $58,000.  Elisa’s capital account balance at the end of the year is
Select one:
a. $81,000
b. $50,000
c. $61,000
d. $95,000

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  • CreatedJuly 26, 2013
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