Paul and Roger are partners who share income in the ratio of 3:2. Their capital balances are $90,000 and $130,000 respectively. Income Summary has a credit balance of $50,000. What is Roger's capital balance after closing Income Summary to Capital?
A) $155,000
B) $150,000
C) $110,000
D) $115,000
Correct Answer:
Verified
Q133: Immediately prior to the admission of Allen,
Q135: The Craig-Doran Partnership owns inventory that was
Q145: The capital accounts of Harrison and Marti
Q146: The capital accounts of Harrison and Marti
Q147: Barton and Fallows form a partnership by
Q150: Partners Ken and Macki each have a
Q151: Jackson and Campbell have capital balances of
Q152: Partners Ken and Macki each have a
Q153: Jackson and Campbell have capital balances of
Q154: The capital accounts of Hawk and Martin
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents