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In 2013, A. Mernick and L. Gold entered into a partnership to develop real estate projects. Each partner contributed $200 000. Due to their respective roles in the business, the partnership agreement specifies a two- phase profit split. The first $90 000 will be split in a ratio of 1:2 to Mernick and Gold, respectively. All profits over $90 000 will be split equally. During 2013, the following transactions took place: Total partnership profit was $110 000. Mernick took withdrawals of $32 000. Gold took withdrawals of $50 000.
At the end of the year, what was the balance in Gold's capital account?
Low Context
A communication style that relies heavily on explicit and direct language, where the speaker's message is conveyed primarily through words rather than contextual cues.
Eyes
Organs of vision that detect light and convert it into electro-chemical impulses in neurons, allowing for sight.
Nonverbal Cues
Communication signals that do not involve words but convey messages through body language, facial expressions, gestures, and tone of voice.
Closeness
The degree of intimacy or connection felt between individuals, which can influence personal relationships and teamwork.
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