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GrogVix [38]
3 years ago
7

Design Services is organized as a limited partnership, with Miko Toori as one of its partners. Miko's capital account began the

year with a balance of $35,000. During the year, Miko's share of the partnership income was $7,500, and Miko received $4,000 in distributions from the partnership. What is Miko's partner return on equity
Business
1 answer:
sammy [17]3 years ago
7 0

Answer: 20.4%

Explanation:

The following information can be gotten from the question:

Beginning equity = $35,000

Ending equity = $35,000 + $7,500 - $4,000 = $38,500

Average equity = ($35,000 + $38,500)/2

= $73,500/2

= $36,750

Miko's partner return on equity will now be:

= $7,500/$36,750

= 0.2041

= 20.4%

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Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

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1 year ago
Stephanie is a twelve-year-old who often assists neighbors on weekends by babysitting their children. Calculate the 2013 standar
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