Reference no: EM13338008
The following information is available on Stewart Enterprises, a partnership, for the most recent fiscal year:
Total partnership capital at beginning of the year $159,000
Partnership net income for the year $129,000
Withdrawals by partners during the year $69,000
Additional investments by partners during the year $39,000
There are three partners in Stewart Enterprises: Stewart, Tedder and Armstrong. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners. (Do not round your intermediate calculations.)
Stewart = $86,000; Tedder = $86,000; Armstrong = $86,000.
Stewart = $51,600; Tedder = $25,800; Armstrong = $51,600.
Stewart = $103,200; Tedder = $51,600; Armstrong = $103,200.
Stewart = $158,400; Tedder = $79,200; Armstrong = $158,400. wrong answer
Stewart = $68,600; Tedder = $79,200; Armstrong = $68,600.
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