Gon and Killua formed a partnership on January 1, 2019 with Gon contributing 16,000 while Killua contributing equipment with a book value of 6,400 and a fair value of 4,800 and inventory items with a book value of 2,400 and fair value of 3,200. During 2019, Killua made additional investments of 1,600 on April 17 and another 1,600 on June 15, and on September 30, he withdrew out of his capital balance of 4,000. Gon had no additional investments or withdrawals during the year. The average capital balance of Killua is _____?
Gon and Killua formed a partnership on January 1, 2019 with Gon contributing 16,000 while Killua contributing equipment with a book value of 6,400 and a fair value of 4,800 and inventory items with a book value of 2,400 and fair value of 3,200. During 2019, Killua made additional investments of 1,600 on April 17 and another 1,600 on June 15, and on September 30, he withdrew out of his capital balance of 4,000. Gon had no additional investments or withdrawals during the year. The average capital balance of Killua is _____?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Gon and Killua formed a partnership on January 1, 2019 with Gon contributing 16,000 while Killua contributing equipment with a book value of 6,400 and a fair value of 4,800 and inventory items with a book value of 2,400 and fair value of 3,200. During 2019, Killua made additional investments of 1,600 on April 17 and another 1,600 on June 15, and on September 30, he withdrew out of his capital balance of 4,000. Gon had no additional investments or withdrawals during the year. The average capital balance of Killua is _____?
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