The Partners' Capital Statement for TSB Company reported the following information in total:Capital, January 1$250000Additional investment79000Drawings156000Net income200000The partnership has three partners: Toub, Sauls, and Birch with ending capital balances in a ratio 40:20:40. What arethe 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.

It is pertinent to note that Ending capital balance includes additional investment, less drawings…

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espective ending balances of the three partners?

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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Question

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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