Fellows and Marshall are partners in an accounting firm and share net income and loss equally Fellows ' beginning partnership capital balance for the current year is $163,000, and Marshall 's beginning partnership capital balance for the current year is $306,000 The partnership had net income of $3...

The net income of the firm 308000 The profit sharing of M ...

Fellows and Marshall are partners in an accounting firm and share net income and loss equally. Fellows'

Question:

Fellows and Marshall are partners in an accounting firm and share net income and loss equally. Fellows' beginning capital balance for the current year is $163,000, and Marshall's beginning capital balance for the current year is $306,000. The had net income of $308,000 for the year. Fellows withdrew $22,000 during the year and Marshall withdrew $68,000. What is Marshall's return on equity?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...