The total column of the Partners' Capital Statement for Coronado Company is as follows: Capital, January 1
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Question:
The total column of the Partners' Capital Statement for Coronado Company is as follows:
Capital, January 1 $591000
Additional investment 250000
Drawings 355000
Net income 711000
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?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: