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1. Darth Vader is a partner in Death Star Promotions. His beginning partnership capital balance for the current year $58,000, and his ending partnership capital
1. Darth Vader is a partner in Death Star Promotions. His beginning partnership capital balance for the current year $58,000, and his ending partnership capital balance for the current year is $66,000. His share of this year's partnership income was $6,500. What is his partner return on equity? A) 11.21% B) 10.48% C) 9.84% D) 954% E) 1015% 2. In the absence of a partnership agreement, the law says that income (and loss) should be allocated based on: A) A fractional basis B) The ratio of capital investments C) Salary allowances D) Equal shares E) Interest allowances
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