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Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $310,000 and Chong's is $300,000. Peters and Chong
Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $310,000 and Chong's is $300,000. Peters and Chong agree to accept Aaron with a 30% interest in the partnership. Aaron invests $278,000 in the partnership. The amount credited to Aaron's capital account is: Multiple Choice O $278,000 $588,000 O $288,000. $266,400. $176,400. Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $235,000, and Atkins's beginning partnership capital balance for the current year is $338,000. The partnership had net income of $356,000 for the year. Barber withdrew $55,000 during the year and Atkins withdrew $117,000. What is Atkins's return on equity? Multiple Choice O 44.6% 52.7% O 48.3% O 24.2% O 56.2%
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