Solved: Franco capital 42000 elisa capital 58000 elisas capital, Accounting Basics

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Franco capital 42000 elisa capital 58000 elisas capital

Question - Franco and Elisa share income equally. During the current year the partnership net income was $40,000. Franco made withdrawals of $12,000 and Elisa made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Franco capital, $42,000; Elisa capital, $58,000. Elisa's capital account balance at the end of the year is

a. 81,000

b. 50,000

c. 61,000

d. 95,000

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Accounting Basics: Franco capital 42000 elisa capital 58000 elisas capital

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