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What are the respective ending balances of the three partner

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Reference no: EM132959209

On December 31st, a partnership's capital statement reported the following information:

Capital, January 1: $324,000

Additional Investment: $56,000

Drawings: $116,000

Net Income: $184,000

The partnership consists of Partners A,B and C with ending capital balances based on a ratio of 5:2:3. All additional investments and drawings are done at this same ratio.

Problem 1: What are the respective ending balances of the three partners?

Reference no: EM132959209

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