Teri, Doug, and Brian Are Partners with Capital Balances of $20,000

question 190

Multiple Choice

Teri, Doug, and Brian are partners with capital balances of $20,000, $30,000, and $50,000 respectively. They share income in the ratio of 3:2:1. Income Summary with a debit balance of $30,000 is closed to the capital accounts. Doug withdraws from the partnership. How much cash does he get upon withdrawal?

• A) $30,000
• B) $20,000
• C) $40,000
• D) $24,000

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Definitions:

Global Warming

The observed rise in Earth's average surface temperature due to human-induced emissions of greenhouse gases.

Carbon Dioxide Levels

The concentration of CO2 gas in the Earth's atmosphere, influential in the discussion of climate change.

Temperature Change

Refers to variations in the average temperature of an environment or the Earth over a specific period, significantly influencing climate patterns and ecosystems.

Earth's Atmosphere

The layer of gases surrounding Earth, essential for life, as it provides air, protects from harmful rays of the sun, and maintains the planet's temperature.