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he total column of the Partners' Capital Statement for Marigold Company is as follows: Capital, January 1 $603000 Additional investment 245000 Drawings 366000 Net income 730000 The partnership has three partners. The first two partners have ending capital balances that are equal. The ending balance of the third partner is half of the ending balance of the first partner. What is the ending capital balance of the third partner

Respuesta :

Answer:

the ending capital balance of the third partner is $242,400

Explanation:

The computation of the ending capital balance for the third partner is shown below:

Total Beginning Capital $603,000

Add: additional Investment $245,000

Less: Drawings -$366,000

Add: Net Income $730,000

Total Ending Capital Balance $1,212,000

Now let us assume the third partner capital be x

Now

The equation would be like

2x + 2x + x = $1,212,000

5x = $1,212,000

x = $242,400

Hence, the ending capital balance of the third partner is $242,400

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