Olivia Greer is a partner in Made for You. An analysis of Greer's capital account indicates that during the most recent year, she withdrew $30,000 from the partnership. Her share of the partnership's net loss was $16,000 and she made an additional equity contribution of $10,000. Her capital account ended the year at $150,000. What was her capital balance at the beginning of the year?
A) $186,000
B) $196,000
C) $170,000
D) $180,000
E) $154,000

Question

Quizplus · Accepted Answer

To find the beginning capital balance, we start with the ending balance of $150,000, add back the withdrawals of $30,000, subtract the net loss of $16,000, and subtract the additional contribution of $10,000. This results in a beginning balance of $186,000.

Olivia Greer Is a Partner in Made for You