Janie and Larry Are Partners,with Beginning Capital Balances of $60,000

Multiple Choice

Janie and Larry are partners,with beginning capital balances of $60,000 and $40,000 respectively.During the year,Janie withdrew $10,000 and Larry withdrew $15,000.The year's net income of $30,000 was distributed $10,000 to Janie and $20,000 to Larry.Calculate the ending balances in the capital accounts.

A) Janie,$60,000; Larry,$45,000
B) Janie,$60,000; Larry,$40,000
C) Janie,$80,000; Larry,$75,000
D) Janie,$80,000; Larry,$45,000