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)$154,000
B)$170,000
C)$180,000
D)$186,000
E)$196,000

Question

Quizplus · Accepted Answer

Beginning capital balance + Additional equity contribution - Withdrawals + Share of net loss = Ending capital balance 
Let X be the beginning capital balance: 
X + 10,000 - 30,000 - 16,000 = 150,000 
X = 186,000 
Therefore, Olivia Greer's capital balance at the beginning of the year was $186,000.

Olivia Greer Is a Partner in Made for You