The following information is available regarding Grace Smit's capital account in Enterprise Consulting Group, a general partnership, for a recent year: Beginning of the year balance Share of partnership income $38,000 $12,500 Withdrawals made during the year $7,600 What is Smit's partner's return on equity during the year in question? A. 12.9% B. 12.1% C. 46.9% D. 30.9% E. 29.1%

Financial Accounting
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ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter12: Accounting For Partnerships And Limited Liability Companies
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The following information is available regarding Grace Smit's
capital account in Enterprise Consulting Group, a general
partnership, for a recent year:
Beginning of the year balance
Share of partnership income
$38,000
$12,500
Withdrawals made during the year $7,600
What is Smit's partner's return on equity during the year in
question?
A. 12.9%
B. 12.1%
C. 46.9%
D. 30.9%
E. 29.1%
Transcribed Image Text:The following information is available regarding Grace Smit's capital account in Enterprise Consulting Group, a general partnership, for a recent year: Beginning of the year balance Share of partnership income $38,000 $12,500 Withdrawals made during the year $7,600 What is Smit's partner's return on equity during the year in question? A. 12.9% B. 12.1% C. 46.9% D. 30.9% E. 29.1%
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