Wednesday
July 30, 2014

Homework Help: Accounting

Posted by Big Dada on Monday, March 31, 2014 at 12:41pm.

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk invested an additional $10,000. During the year, Hawk and Martin withdrew $86,000 and $68,000, respectively, and net income for the year was $258,000. The articles of partnership make no reference to the division of net income.

Based on this information, the statement of partnersí equity for 2010 would show what amount as total capital for the partnership on December 31, 2010?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Profit & Loss - how do i calculate this problem? A and B are in partnership ...
acc 100 - Metzger Company compiled the following financial information as of ...
Accounting - Cadzow Inc purchases all of its inventory on credit. On January 1, ...
accounting - Jack Shellenkamp owns and manages a computer repair service, which ...
accounting - On January 2, 2010, Wine Corporation wishes to issue $2,000,000 (...
Accounting - As of January 1 of the current year, the Grackle Company had ...
Accounting - Sam's grocery store had the following at the end of 20X5: Cash $22,...
accrual basis accounting vs. cash accounting basis - Can someone please check my...
accounting - Marks: 20 At the beginning of the fiscal year, ABC Clinic expected ...
Accounting - The following are all of the accounts of Mean Green Company that ...

Search
Members