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espective ending balances of the three partners?

espective ending balances of the three partners?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Partners' Capital Statement for TSB Company reported the following information in total: Capital, January 1 $250000 Additional investment 79000 Drawings 156000 Net income 200000 The partnership has three partners: Toub, Sauls, and Birch with ending capital balances in a ratio 40:20:40. What are the respective ending balances of the three partners? Toub, $180000; Sauls, $90000; Birch, $180000. Toub, $149200: Sauls, $74600; Birch, $149200. Toub, $274000; Sauls, $137000; Birch, $274000. Toub, $162400; Sauls, $81200; Birch, $162400.
Transcribed Image Text:The Partners' Capital Statement for TSB Company reported the following information in total: Capital, January 1 $250000 Additional investment 79000 Drawings 156000 Net income 200000 The partnership has three partners: Toub, Sauls, and Birch with ending capital balances in a ratio 40:20:40. What are the respective ending balances of the three partners? Toub, $180000; Sauls, $90000; Birch, $180000. Toub, $149200: Sauls, $74600; Birch, $149200. Toub, $274000; Sauls, $137000; Birch, $274000. Toub, $162400; Sauls, $81200; Birch, $162400.
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