Franco and Elisa Share Income Equally

question 169

Multiple Choice

Franco and Elisa share income equally. During the current year the partnership net income was $40,000. Franco made withdrawals of $12,000 and Elisa made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Franco capital, $40,000; Elisa capital, $58,000. Franco's capital account balance at the end of the year is

• A) $74,500
• B) $62,500
• C) $60,000
• D) $48,000

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