Hunt Sports Enterprises LP is organized as a limited partnership consisting of two individual… 1 answer below »
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Hunt Sports Enterprises LP is organized as a limited partnership consisting of two individual partners: Soccer LP and Football LP. Both partners separately operate a minor league soccer team and a semipro football team. Compute partner return on equity for each limited partnership (and the total) for the year ended June 30, 2011, using the following selected data on partner capital balances from Hunt Sports Enterprises LP.
Soccer LP
Football LP
Total
Balance at 6/30/2010
$378,000
$1,516,000
$1,894,000
Annual net income
44,268
891,796
936,064
Cash distribution
—
(100,000)
(100,000)
Balance at 6/30/2011
$422,268
$2,307,796
$2,730,064
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