Olivia Greer Is a Partner in Made for You

question 127

Multiple Choice

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

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Definitions:

Essences

The intrinsic nature or indispensable quality of something, especially something abstract, that determines its character.

DNA

Stands for Deoxyribonucleic Acid, which is a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Environment

The environment or circumstances under which a person, animal, or plant exists or functions.

High Agreement

A situation or condition where there is a strong consensus or uniformity of opinion among individuals or groups.