Question

Sadie and sam share income equally. for the current year, the partnership net income is $40,000. sadie made withdrawals of $14,000, and sam made withdrawals of $15,000. at the beginning of the year, the capital account balances were sadie, capital, $42,000; sam capital, $58,000. sam's capital account balance at the end of the year is

Answer 1

First calculate sam's share income
40000/2=20000

sam's capital account balance at the end of the year is
sam capital - withdrawals + share income
58,000−15,000+20,000
=63,000

So the answer is 63000

Hope it helps!