Based on this information, the statement of partners' equity would show what amount in the capital account for Marti on December 31?

Question

Quizplus · Accepted Answer

The partners' equity statement shows the changes in the partners' capital accounts over a period of time. From the given information, Marti invested $100,000 and withdrew $12,000 during the year, and the ending capital balance was $252,000. Therefore, the beginning capital balance was:

Beginning Capital Balance = Ending Capital Balance - Investments + Withdrawals
Beginning Capital Balance = $252,000 - $100,000 + $12,000
Beginning Capital Balance = $164,000

Thus, the statement of partners' equity would show the capital account for Marti on December 31 as $164,000.

Based on This Information, the Statement of Partners' Equity Would