Answer: $18,700
Explanation:
From the question, we are told that the revenue accounts for the period was $304,200 and the expense accounts for the period was $336,000. This means that there was a loss of:
= $336,000 - $304,200
= $31,800
They share income and losses in the ratio of 3:2:1. This means that Doug's share will be 2/6.
Since a loss of $31,800 was made, the loss will be:
= 2/6 × $31,800
= 1/3 × $31,800
= $10,600
Teri, Doug, and Brian are partners with capital balances of $36,300, $29,300, and $56,100, respectively. Therefore, when Doug withdraws from the partnership, he will receive a cash of:
= $29,300 - $10,600
= $18,700
