Jon Harris started the year with a capital balance of $134100. During the year, his share of partnership net income was $121000 and he withdrew $23500 from the partnership for personal use. He made an additional capital contribution of $36900 during the year. The amount of Jon Harris's capital balance that will be reported on the year-end balance sheet will be O $121000. $231600. $268500. $292000.

Jon Harris started the year with a capital balance of $134100. During the year, his share of partnership net income was $121000 and he withdrew $23500 from the partnership for personal use. He made an additional capital contribution of $36900 during the year. The amount of Jon Harris's capital balance that will be reported on the year-end balance sheet will be O $121000. $231600. $268500. $292000.

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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