During 2010,Schmidt Invested $75,000 and Baldwin Invested $90,000 in a Partnership.They

question 41

Multiple Choice

During 2010,Schmidt invested $75,000 and Baldwin invested $90,000 in a partnership.They agreed that Baldwin would get a salary allowance of $30,000 and they would share any remaining income or loss equally.During 2010 the partnership earned net income of $300,000 and they each withdrew $12,000 from the partnership.Which of the following statements is correct?

• A)Schmidt Capital at the end of 2010 is $213,000.
• B)Schmidt Capital at the end of 2010 is $210,000.
• C)Baldwin Capital at the end of 2010 is $243,000.
• D)Baldwin Capital at the end of 2010 is $255,000.
• E)Total Capital at the end of 2010 has increased by $300,000.

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Definitions:

Task Force

A temporary group of individuals formed to undertake a specific mission or solve a particular problem, often within organizational contexts.

Team Cohesion

refers to the extent to which members of a group stick together and remain united in pursuit of common goals and objectives.

Social Loafing

The occurrence where people put in less effort towards attaining a goal while working in a team compared to when they are working individually.

Group Context

Refers to the environmental and dynamic variables that influence the behavior, attitudes, and effectiveness of a group's members.