The following information is available regarding Grace Smit's capital account in Enterprise Consulting Group, a general partnership, for a recent year: $\begin{array}{ll}
\text { Beginning of the year balance } & \$ 22,000 \
\text { Share of partnership income } & \$ 8,500 \
\text { Withdrawals made during the vear } & \$ 6,000
\end{array}$
What is Smit's partner return on equity during the year in question?
A) 34.7%
B) 55.7%
C) 10.8%
D) 36.6%
E) 11.4%

Question

The following information is available regarding Grace Smit's capital account in Enterprise Consulting Group, a general partnership, for a recent year: $\begin{array}{ll}
\text { Beginning of the year balance } & \$ 22,000 \
\text { Share of partnership income } & \$ 8,500 \
\text { Withdrawals made during the vear } & \$ 6,000
\end{array}$
 What is Smit's partner return on equity during the year in question?
A) 34.7%
B) 55.7%
C) 10.8%
D) 36.6%
E) 11.4%

Quizplus · Accepted Answer

The Answer of The following information is available regarding Grace Smit's capital account in Enterprise Consulting Group, a general partnership, for a recent year: $\begin{array}{ll}
\text { Beginning of the year balance } & \$ 22,000 \
\text { Share of partnership income } & \$ 8,500 \
\text { Withdrawals made during the vear } & \$ 6,000
\end{array}$
 What is Smit's partner return on equity during the year in question?
A) 34.7%
B) 55.7%
C) 10.8%
D) 36.6%
E) 11.4%

The Following Information Is Available Regarding Grace Smit's Capital Account