Hockey LP Football LP Total $ 947,000 $ 758,000 445,473 Beginning-year balance $189,000 Annual net income . 22,208 467,681 Cash distribution (50,000) (50,000) Ending-year balance $211,208 $1,153,473 $1,364,681
Hockey LP Football LP Total $ 947,000 $ 758,000 445,473 Beginning-year balance $189,000 Annual net income . 22,208 467,681 Cash distribution (50,000) (50,000) Ending-year balance $211,208 $1,153,473 $1,364,681
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Rugged Sports Enterprises LP is organized as a limited
Hockey LP and Football LP. Compute partner return on equity for each limited partnership (and the total)
for the year using the following data from Rugged Sports Enterprises LP.
![Hockey LP
Football LP
Total
$ 947,000
$ 758,000
445,473
Beginning-year balance
$189,000
Annual net income .
22,208
467,681
Cash distribution
(50,000)
(50,000)
Ending-year balance
$211,208
$1,153,473
$1,364,681](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9ae5fe2-518e-4606-9f37-fe97df047d15%2F2e5e540b-5b5a-4291-b59f-1b5acbcb48a7%2Ftyy3qjc.jpeg&w=3840&q=75)
Transcribed Image Text:Hockey LP
Football LP
Total
$ 947,000
$ 758,000
445,473
Beginning-year balance
$189,000
Annual net income .
22,208
467,681
Cash distribution
(50,000)
(50,000)
Ending-year balance
$211,208
$1,153,473
$1,364,681
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