The Capital Accounts of Hawk and Martin Have Balances of $160,000

question 4

Multiple Choice

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk invested an additional $10,000. During the year, Hawk and Martin withdrew $86,000 and $68,000, respectively, and net income for the year was $258,000. The articles of partnership make no reference to the division of net income. Based on this information, the statement of partners' equity for 2010 would show what amount in the capital account for Martin on December 31, 2010?

• A) $173,000
• B) $211,000
• C) $201,000
• D) $232,000

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Definitions:

Pay Ranges

Sets of varying salaries that an employer is willing to pay for a particular job, reflecting experience, skill level, and responsibilities.

Merit Bonuses

Financial rewards given to employees based on their performance, achievements, or meeting certain criteria.

Behaviourally Anchored Rating Scales

A performance evaluation method that rates employees based on their behaviors related to specific job tasks using scales anchored with behavioral examples.

Frequency Rating

A measurement of how often something occurs within a specified period.