| 33.8% | |
 | 32.7% |
| 43.9% | |
| 36.5% | |
| 41.3% |
$370,000 + $125,000 - $100,000 = $395,000 ending capital $125,000/[($370,000 + $395,000)/2] = 32.7%
Wednesday, March 13, 2013
Accounting Midterm Exam ACG-2011: Question 19
Nee High and Low Jack are partners in an accounting firm and share net
income and loss equally. High's beginning partnership capital balance
for the current year is $285,000, and Jack's beginning partnership
capital balance for the current year is $370,000. The partnership had
net income of $250,000 for the year. High withdrew $90,000 during the
year and Jack withdrew $100,000. What is Jack's return on equity?
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