ACCOUNTING Question 19 (of 34) Save & Ext Sabrin You did not receve creait for t

Question

ACCOUNTING Question 19 (of 34) Save & Ext Sabrin You did not receve creait for thus question in a prevous anempr fhiem and share net imcome and loss equalty Barber's beginning partnership capitial balance for the currenit year is $347000, and Atons and Asun Barber and Atkins are partners n beginning partnership capital balance for the current year is S325,000 The partnership had net income ors363000 for the year Be bene dew Saco withdrew $24,000 What is Barber's return on equity? ang reyear 43.8% 219% 523% 376 o 450%

Explanation / Answer

Opening balance capital=$347,000

Share of barber in net income=$363,000*.5=$181,500

return on equity of barber is =share of net income*100/Opening balance capital=$181,500*100/$347,000=52.305%

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.