Basics of capital account balance at the end of year

Reference no: EM13138086

Carla and Eliza share income equally. During the current year the partnership net income was $40,000. Carla made withdrawals of $12,000 and Eliza made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Carla capital, $42,000; Eliza capital, $55,000. Eliza's capital account balance at the end of the year is:

1. $75,000

2. $82,000

3. $52,000

4. $58,000

Reference no: EM13138086

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