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Fellows and Marshall are partners in an accounting firm and share net income and loss equally. Fellows beginning partnership capital bolonce for the current year
Fellows and Marshall are partners in an accounting firm and share net income and loss equally. Fellows beginning partnership capital bolonce for the current year is $302,000, and Marshall's beginning partnership capital balance for the current year is $340,000. The partnership had net income of $253,000 for the year. Fellows withdrew $90,000 during the year and Marshall withdrew $29,000. What is Marshali's return on equity? Multiple Choice 372% 1639 28.9n 34.2x 32.5% capital balances are Caltin, \$131,000; Chris, \$91,000; and Molly, $111,000. Poul is admitted to the parthership on July i wath a 158 ; equity and invests 5171,000 . The balance in Caitin's capital account immediately after Paurs admission is: Muttipie Choice sin1000 $159620 5120860 5130.620 5102,380 Maxwell and Smart are forming a partnership. Marwell is investing a building that has a market value of $92,000. However the bualding has a 544000 note payable that will be assumed by the partnership. Smart is investing $45,000 cash, The balance of Marwelis Capital accourt wil be Muitiple Choice 593.000. $98,000 $44.000 $92.000 $47000 Fontaine and Monroe are forming a partnenhip. Fontaine invests a bulding that has a market value of $340,000 and a $120,000 note payable. Monroe invests $95,000 in cash and equipment that has a market value of $70,000. For the partnership, the amount recorded for Fontaines Capital account is. Multipie Choice $120000 $460,000. $220000. 595.000 $340000
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