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The partnership agreement of Q and R provides that interest at 10% per annum is...

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Accounting

The partnership agreement of Q and R provides that interest at 10% per annum is to be credited to each partner based on their average capital balances. The summary of R's capital account for the year ended December 31, 2010 shows: 


a. Beginning balance, Jan. 1 -280,000 


b. Additional investment, June 30 -80000 


c. Withdrawal, July 31 -30000 


d. Ending balance, Dec. 31 ? 


1. How much is R's average capital? 


2. What amount of interest should be credited to Kyle for the year 2010?

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