Cleary, Wasser, and Nolan Formed a Partnership on January 1

question 32

Multiple Choice

Cleary, Wasser, and Nolan formed a partnership on January 1, 2012, with investments of $100,000, $150,000, and $200,000, respectively. For division of income, they agreed to (1) interest of 10% of the beginning capital balance each year, (2) annual compensation of $10,000 to Wasser, and (3) sharing the remainder of the income or loss in a ratio of 20% for Cleary, and 40% each for Wasser and Nolan. Net income was $150,000 in 2012 and $180,000 in 2013. Each partner withdrew $1,000 for personal use every month during 2012 and 2013.
What was Nolan's total share of net income for 2012?

• A) $63,000.
• B) $53,000.
• C) $58,000.
• D) $29,000.
• E) $51,000.

Recognize the importance and impact of attachment styles in early childhood on later stages of development.

Identify the characteristic behavioral styles and how temperament affects an individual's response to their environment.

Grasp the stages of Erikson's theory of socioemotional development and their significance in shaping personality.

Acknowledge the influence of parenting styles on children's behavior, social competence, and emotional well-being.

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