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%
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
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter12: Accounting For Partnerships And Limited Liability Companies
Section: Chapter Questions
Problem 3PA
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