In 2013, A

question 46

Multiple Choice

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 Mernick's capital account?

• A)$198 000
• B)$208 000
• C)$168 000
• D)$170 000

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Definitions:

Freud

Freud, an Austrian neurologist, established the psychoanalytic method, aimed at curing psychopathology through a dialogical process involving a psychoanalyst and a patient.

Maladaptive Behaviors

Actions or tendencies that are counterproductive to one’s own wellbeing or ability to meet demands of daily life, often increasing stress.

Anxiety Disorder

A mental health disorder characterized by excessive fear, worry, or unease that is difficult to control and affects daily functioning.

Reduce Worry

Strategies or approaches aimed at diminishing feelings of concern or anxiety about potential problems or threats.