What was Wasser's capital balance at the end of 2018?

Question

Quizplus · Accepted Answer

At the end of 2018, the capital balance is calculated by adding the beginning capital balance, net income or loss, and any additional contributions or withdrawals.

Beginning Capital Balance (as of January 1, 2018): $197,000 
Net Income for 2018: $28,540 
Withdrawals for 2018: $-2,000

Calculation: 
Beginning Capital Balance + Net Income – Withdrawals = Ending Capital Balance 
$197,000 + $28,540 - $2,000 = $264,540

Therefore, the correct answer is C) $264,540.

What Was Wasser's Capital Balance at the End of 2018