The Total Column of the Partners' Capital Statement for DeltaBell

question 201

Multiple Choice

The total column of the Partners' Capital Statement for DeltaBell Company is as follows: $\begin{array}{llr} \text { Capital, January 1 } &\$600,000\\ \text {Additional investment. } &240,000\\ \text { Drawings. } &360,000\\\text { Net income } &720,000\end{array}$

The partnership has three partners. The first two partners have ending capital balances that are equal. The ending balance of the third partner is half of the ending balance of the first partner. What is the ending capital balance of the third partner?

• A) $288000
• B) $192000
• C) $240000
• D) $264000

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Definitions:

Concrete Operations

The stage in Piaget's theory of cognitive development in which children aged about 7 to 12 years become capable of logical thought processes but are not yet adept at abstract reasoning.

Preoperational

Pertains to Piaget’s stage of cognitive development (typically ages 2-7) in which children start to use language to explore and understand their environments, but do not yet use logical mental operations.

Sensorimotor

Referring to the developmental stage in Piaget's theory of cognitive development, where infants learn through interacting with the world using their senses and motor abilities.

Egocentrism

A cognitive bias where individuals overemphasize their own point of view at the expense of others' perspectives.