Mary Janane's capital statement reveals that her drawings during the year were $50,000. She made an additional capital investment of $25,000 and her share of the net loss for the year was $10,000. Her ending capital balance was $200,000. What was Mary Janane's beginning capital balance? a. $260,000 b. $225,000 c. $185,000 d. $235,000

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 2CE
icon
Related questions
Question
100%

What was Mary janane's beginning capital balance??

Mary Janane's capital statement reveals that her
drawings during the year were $50,000. She made
an additional capital investment of $25,000 and her
share of the net loss for the year was $10,000. Her
ending capital balance was $200,000. What was
Mary Janane's beginning capital balance?
a. $260,000
b. $225,000
c. $185,000
d. $235,000
Transcribed Image Text:Mary Janane's capital statement reveals that her drawings during the year were $50,000. She made an additional capital investment of $25,000 and her share of the net loss for the year was $10,000. Her ending capital balance was $200,000. What was Mary Janane's beginning capital balance? a. $260,000 b. $225,000 c. $185,000 d. $235,000
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT