Regina Harrison is a partner in Pressed for Time. An analysis of Regina Harrison's capital account indicates that during the most recent year, she withdrew $20,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year? O a. $124,000 b. $176,000 O c. $192,000 O d. $144,000
Regina Harrison is a partner in Pressed for Time. An analysis of Regina Harrison's capital account indicates that during the most recent year, she withdrew $20,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year? O a. $124,000 b. $176,000 O c. $192,000 O d. $144,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 2BCRQ
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Transcribed Image Text:Regina Harrison is a partner in Pressed for Time. An analysis of Regina Harrison's capital account
indicates that during the most recent year, she withdrew $20,000 from the partnership. Her share
of the partnership's net loss was $16,000 and she made an additional equity contribution of
$10,000. Her capital account ended the year at $150,000. What was her capital balance at the
beginning of the year?
a. $124,000
O b. $176,000
○ c.
$192,000
Od. $144,000
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