Solved

The Following Information Is Available on TGR Enterprises, a Partnership

Question 79

Multiple Choice

The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year: Total partnership capital at beginning of the year $180,000 Partnership net income for the year $150,000
Withdrawals by partners during the year $120,000 Additional investments by partners during the year $ 60,000
There are three partners in TGR Enterprises: Tracey, Gregory and Rodgers. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.


A) Tracey = $84,000; Gregory = $102,000; Rodgers = $84,000.
B) Tracey = $204,000; Gregory = $102,000; Rodgers = $204,000.
C) Tracey = $60,000; Gregory = $30,000; Rodgers = $60,000.
D) Tracey = $90,000; Gregory = $90,000; Rodgers = $90,000.
E) Tracey = $108,000; Gregory = $54,000; Rodgers = $108,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents