A Partnership Began Its First Year of Operations with the Following

question 14

Multiple Choice

A partnership began its first year of operations with the following capital balances:

The Articles of Partnership stipulated that profits and losses be assigned in the following manner:
Young was to be awarded an annual salary of $26,000 with $13,000 salary assigned to Thurman.
Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year.
The remainder was to be assigned on a 5:2:3 basis to Young, Eaton, and Thurman, respectively.
Each partner withdrew $13,000 per year.
Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year.
What was the balance in Young's Capital account at the end of the first year?

• A) $120,900.
• B) $118,300.
• C) $126,100.
• D) $80,600.
• E) $111,500.

---

Definitions:

Bully-victims

Individuals who are both perpetrators and victims of bullying behaviors.

Relational Aggression

Nonphysical acts, such as insults or social rejection, aimed at harming the social connection between the victim and other people.

Hitting

The act of physically striking someone or something, often as a form of punishment or in an aggressive manner.

Shoving

The act of pushing someone or something roughly, often as a form of aggression or to move them out of the way.