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Partner A first contributed $20,000 of capital into an existing partnership on February 1, 2019....

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Accounting

  1. Partner A first contributed $20,000 of capital into an existing partnership on February 1, 2019. On June 1, 2019, the partner contributed another $20,000. On September 1, 2019, the partner withdrew $15,000 from the partnership. Withdrawals in excess of $5,000 are charged to the partners capital account. The partnerships fiscal year is December 31. Partner As weighted average capital balance for 2019 is:
  1. $25,000.
  2. $26,667.
  3. $29,091.
  4. $30,000.

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