REFERENCE: Ref.14_01 Cleary,Wasser,and Nolan Formed a Partnership on January 1,2007,with Investments of Investments

question 47

Multiple Choice

REFERENCE: Ref.14_01
Cleary,Wasser,and Nolan formed a partnership on January 1,2007,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 2007 and $180,000 in 2008.Each partner withdrew $1,000 for personal use every month during 2007 and 2008.
-What was Wasser's capital balance at the end of 2008?

• A)$201,000.
• B)$263,520.
• C)$264,540.
• D)$304,040.
• E)$313,780.

---

Definitions:

Viral Infections

Diseases caused by viruses, microscopic organisms that invade and multiply within the body's cells.

Diathesis-Stress Model

A psychological theory that explains behavior as a predispositional vulnerability together with stress from life experiences.

Biological Predisposition

An inherent genetic inclination towards developing certain traits or disorders, influenced by environmental factors.

Lifetime

The duration of existence of an individual or the period during which something is functional or exists.