Vicram and Walter are in partnership but have not made any partnership agreement.
The net assets of the partnership at the end of a financial period totalled ＄180 000.
The partners maintain capital and current accounts.
The opening balances on the current accounts were:
Vicram 3200 debit
Walter 6800 credit
The profit of the partnership for the period, before appropriation, was ＄85 000.
Vicram had provided a loan of ＄20 000 to the business.
What is the balance on Vicram’s capital account at the end of the period?
1 )
＄35 200
＄45 200
3 )
＄48 800
4 )
＄55 200
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