Regina Harrison Is a Partner in Pressed for Time

question 79

Multiple Choice

Regina Harrison is a partner in Pressed for Time. An analysis of Regina Harrison's capital account indicates that during the most recent year, she withdrew $20,000 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) $124,000
• B) $144,000
• C) $192,000
• D) $176,000
• E) $134,000

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Definitions:

Abusive Language

Language that is harmful, offensive, or derogatory in nature, and can be directed towards an individual or group.

Punitive Damages

Compensation awarded in a lawsuit that goes beyond the plaintiff's actual losses and is intended to punish the defendant for particularly egregious conduct.

Compensate Victims

To offer restitution or damages to individuals who have suffered harm or loss due to another's action or negligence.

Unloaded Gun

refers to a firearm that does not contain any ammunition in its chamber or magazine, thus unable to discharge a bullet.