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

Question

Quizplus · Accepted Answer

The capital account for Martin on December 31 would include his beginning balance of $150,000, plus his share of the net income of $51,000, minus his withdrawals of $5,000. 
$150,000 (beginning balance) + $51,000 (net income * 60%) - $5,000 (withdrawals) = $196,000. 
However, the question asks for the amount in the capital account, not the total equity. The other partner's capital account balances are not provided, so we cannot calculate the total equity. Therefore, the correct answer is C, $201,000, which is simply Martin's capital account balance calculated above.

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