Hi expart Provide answer the accounting question Mee Su is a partner in Hartford Partners,LLC. Her partnership capital balance at thebeginning of the current year was$110,000, and her ending balance was$124,000. Her share of the partnershipincome is $10,500. What is her partner'sreturn on equity?a) 8.97%b) 1060.00%c) 9.54%d) 1047.00%e) 8.47%

Step 1: Define Return on EquityReturn on equity is a financial measure of determining the ability of…

Answered: Mee Su is a partner in Hartford…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter15: Partnership Accounting

Section: Chapter Questions

Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...

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The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have capital balances of $45,000 each. Prepare a schedule showing how the bonus should be divided if Ashanti joins the partnership with a $60,000 investment. The partners new agreement will share profit and loss in a 1:3 ratio.
The partnership of Magda and Sue shares profits and losses in a 50:50 ratio after Mary receives a $7,000 salary and Sue receives a $6,500 salary. Prepare a schedule showing how the profit and loss should be divided, assuming the profit or loss for the year is: A. $10,000 B. $5,000 C. ($12,000) In addition, show the resulting entries to each partners capital account.
Juan contributes marketable securities to a partnership. The book value of the securities is $7,000 and they have a current market value of $10,000. What amount should the partnership record in Juans Capital account due to this contribution? A. $10,000 B. $7,000 C. $3,000 D. none of the above
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Mee Su is a partner in Hartford Partners, LLC. Her partnership capital balance at the beginning of the current year was $110,000, and her ending balance was $124,000. Her share of the partnership income is $10,500. What is her partner return on equity? a. 8.97% c. 9.54% e. 8.47% b. 1060.00% d. 1047.00%
Mee Su is a partner in Hartford Partners, LLC. Her partnership capital balance at the beginning of the current year was $110,000, and her ending balance was $124,000. Her share of the partnership income is $10,500. What is her partner return on equity?
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Use the following information for numbers 13 to 18. The capital accounts of Sonia and Olga partnership on January 1, 2018 were: Partners Capitals P&L Ratio Sonia 112,000 75% Olga 48,000 25% On October 1, 2018, Thess was admitted for a 40% interest in the partnership when she purchased 40% of each existing partner's capital for P80,000, paid directly to Sonia and Olga. The partnership's net income for the year is P66,000 and 2/3 of it was earned in the last quarter of the year. What are the balances of all partners after Thess's admission to the partnership? 13. Sonia. 14. Olga. 15. Thess. 16. How much will Sonia receive from the above transaction? 17. Assume that Thess is admitted by investing P80,000 into the partnership for a 40% interest, how much is the ending capital balance of Olga after the admission? 18. Assume that Thess is admitted by investing P80,000 into the partnership for a 40% interest, how much is the bonus (given)/received to/from Thess after the admission?
The following are the capital account balances and profit and loss ratios of the partners in AB Partnership as of July 1, 2020: Capital accounts A, Capital B, Capital Profit & loss ratios 250,000 40% 350,000 60% On July 1, 2020, C was admitted to the partnership when he purchased half of A's capital interest for P100,000. How much is A's capital balance after the admission of Č?
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