A Partnership Began Its First Year of Operations with the Following

question 61

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 Thurman's total share of net loss for the first year?

• A) $3,900 loss.
• B) $11,700 loss.
• C) $10,400 loss.
• D) $24,700 loss.
• E) $9,100 loss.

---

Definitions:

Rape-Supportive Myths

Beliefs and attitudes that trivialize, normalize, or endorse sexual violence, thereby contributing to its perpetuation.

Pedophilic Disorder

A psychiatric disorder characterized by an adult having a sexual preference for prepubescent children.

Sexual Attraction

An appeal or desire toward someone, often based on physical or emotional characteristics.

Desire For Power

A strong motivation to have control or influence over others or situations.