Question
Rugged Sports Enterprises LP is organized as a limited partnership consisting of two individual partners: Hockey LP and Football LP. Hockey LP Football LP Total
Rugged Sports Enterprises LP is organized as a limited partnership consisting of two individual partners: Hockey LP and Football LP.
| Hockey LP | Football LP | Total | |
|---|---|---|---|
| Beginning-year capital balance | $ 371,000 | $ 1,521,100 | $ 1,892,100 |
| Annual net income | 43,728 | 896,424 | 940,152 |
| Cash distribution | (110,000) | (110,000) | |
| Ending-year capital balance | $ 414,728 | $ 2,307,524 | $ 2,722,252 |
Compute partner return on equity for each LPand the total) for the year using the above data from Rugged Sports Enterprises LP.
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Financial Accounting Financial Accounting Acc 201 College Of Southern Nevada
Authors: Weygandt. Kimmel. Kieso
13th Edition
1118742966, 978-1118742969
