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Compute the ending capital balances of the three partners

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Question - The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year:

Total partnership capital at beginning of the year $177,000

Partnership net income for the year $147,000

Withdrawals by partners during the year $87,000

Additional investments by partners during the year $57,000

There are three partners in TGR Enterprises: Tracey, Gregory and Rodgers. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.

Reference no: EM132109507

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