SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN: 9780357391266
Author: Nellen
Publisher: Cengage
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beginning capital balance?

Transcribed Image Text:Mary Janane's capital statement reveals that her
drawings during the year were $50,000. She made
an additional capital investment of $25,000 and her
share of the net loss for the year was $10,000. Her
ending capital balance was $200,000. What was
Mary Janane's beginning capital balance?
a. $260,000
b. $225,000
c. $185,000
d. $235,000
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