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sweet-ann [11.9K]
3 years ago
10

Carla and Eliza share income equally. For the current year, the partnership net income is $40,000. Carla made withdrawals of $12

,000 and Eliza made withdrawals of $21,000. At the beginning of the year, the capital account balances were: Carla capital, $42,000; Eliza capital, $55,000. Eliza’s capital account balance at the end of the year isa. $52,000
b. $58,000
c. $82,000
d. $75,000
Business
1 answer:
sveticcg [70]3 years ago
8 0

Answer:

$54,000

Explanation:

Eliza's share of net income = $40,000 ÷ 2

                                             = $20,000

Eliza made withdrawals = $21,000

Eliza capital = $55,000

Eliza’s capital account balance at the end of the year:

= Eliza capital - Eliza withdrawals + Net income share of Eliza

= $55,000 - $21,000 + $20,000

= $54,000

Therefore, the Eliza’s capital account balance at the end of the year is $54,000.

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The cost constraint suggests that, even when the cost of providing accounting information exceeds its benefit, the financial acc
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3 years ago
Under its executive stock option plan, W Corporation granted options on January 1, 2021, that permit executives to purchase 15 m
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$270m

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The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following
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D. $155,600

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Simply we multiplied the sales with the collection criteria

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