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 $285,000, and Atkins' beginning partnership capital balance for the current year is $370,000. The partnership had net income of $250,000 for the year. Barber withdrew $90,000 during the year and Atkins withdrew $100,000.
-What is Atkins's return on equity?
A) 41.3%
B) 43.9%
C) 36.5%
D) 32.7%
E) 33.8%

Question

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 $285,000, and Atkins' beginning partnership capital balance for the current year is $370,000. The partnership had net income of $250,000 for the year. Barber withdrew $90,000 during the year and Atkins withdrew $100,000. 
-What is Atkins's return on equity?
A) 41.3%
B) 43.9%
C) 36.5%
D) 32.7%
E) 33.8%

Quizplus · Accepted Answer

The Answer of 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 $285,000, and Atkins' beginning partnership capital balance for the current year is $370,000. The partnership had net income of $250,000 for the year. Barber withdrew $90,000 during the year and Atkins withdrew $100,000. 
-What is Atkins's return on equity?
A) 41.3%
B) 43.9%
C) 36.5%
D) 32.7%
E) 33.8%

Barber and Atkins Are Partners in an Accounting Firm and Share