Kevin and Laura are partners in a law firm. Kevin's initial investment was ?400,000, and...
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Accounting
- Kevin and Laura are partners in a law firm. Kevin's initial investment was ?400,000, and Laura's was ?300,000. They made additional investments of ?50,000 and ?60,000, respectively. The firm suffered a net loss of ?25,000, which is to be shared based on their original capital contributions. Compute their ending capital balances.
Partner | Initial Capital | Additional Investment | Net Loss Share | Ending Capital |
Kevin | ?400,000 | ?50,000 | ? | ? |
Laura | ?300,000 | ?60,000 | ? | ? |
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