answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Cloud [144]
2 years ago
5

kala and leah partners in best designs have capital balances of $40,000 and $60,000 respectively. adam joins the partnership by

buying one-half of kala's interest for $30,000. in addition, because of adam's outstanding sales skills, the partners agree to increase his interest to 40% if he invests another $10,000. the income-sharing ratio for kala, leah, and adam is 4:3:1. a) journalize the entries to record the admission of adam to the partnership. b) immediately after adam's admission to the partnership, leah sells one-fourth of her interest to denton for $35,000. journalize the entry to record the transaction.
Business
2 answers:
inna [77]2 years ago
6 0

Answer:

The solution to the following problem is done below.

Explanation:

a) Journalize the entries to record the admission of adam to the partnership.

Account Title                                                                          Dr            Cr

Kala, Capital                                                                         20,000

Adam, Capital                                                                                       20,000

Cash                                                                                      10,000

Kala, Capital                                                                                           8,000

Leah, Capital                                                                         6,000

Adam, Capital                                                                                        24,000

b) Immediately after adam's admission to the partnership, leah sells one-fourth of her interest to denton for $35,000. journalize the entry to record the transaction.

Account Title                                                                          Dr            Cr

Leah, Capital                                                                        13,500

Denton, Capital                                                                                    13,500

yarga [219]2 years ago
6 0

Answer:

please find the attached for the answer

Explanation:

Download docx
You might be interested in
Araceli is a team member in a large corporation. She never speaks in the team meetings because she has seen members talk behind
kykrilka [37]

Answer:

Climate of trust

Explanation:

There is absolutely no climate of trust between the team members and they probably do not even like each other. This group shouldn't be called a team, because a team is supposed to work together towards obtaining a common goal. In this case, the members of this group do not work together and they are trying to take advantage of each other's mistakes.

6 0
2 years ago
Which career would organize, train, and support teachers and educational workers to help them provide better instruction? O dist
asambeis [7]

Answer:

C

Explanation:

8 0
1 year ago
Read 2 more answers
During its first year of operations, Silverman Company paid $11,625 for direct materials and $11,000 for production workers' wag
ella [17]

Answer:

$7,750

Explanation:

The computation of the net income for the first year is shown below:

but before that following calculations needed

The Cost of production is

= Direct material + Direct labor + Manufacturing overhead

= $11,625 + $11,000 + $10,000

= $32,625

The Unit product cost is

= $32,625 ÷  7,250 units

= $4.50 per unit

Now  

Cost of goods sold = Number of units sold × cost per unit

= 4,500 units × $4.50

= $20,250

And, finally

Net Income = Sales revenue - COGS - general, selling, and administrative expenses

= (4,500 units × $7) - $20,250 - $3,500

= $7,750

3 0
1 year ago
ACE Electronics introduces a new voice-activated personal computer that no longer requires a keyboard. ACE charges the high pric
ArbitrLikvidat [17]

Answer:

C) competition

Explanation:

ACE's new computer is in the introduction stage of the product life cycle. It is a very new and different product and therefore ACE can charge a high price until the growth stage begins. During the growth stage, the product's demand will increase and it will become a normal available product, that will attract several competitors into the market. Competitors might introduce newer versions of the product which are slightly different, but specially the price will be a decisive factor. As more competitors enter the market, the price will fall.

6 0
2 years ago
1. Why does the sushi robot make​ sense? A. It never rusts out. B. It is faster than a human. C. It replaces humans altogether.
ella [17]

Answer:

C. It replaces human altogether

Explanation:

The current global outlook and focus on robotic sciences indicates that robots have entered into our daily lives. With the emergence of artificial intelligence and IoT internet of things it is evident that fourth industrial revolution would result in replacing humans altogether in almost every profession and aspect of life.

4 0
2 years ago
Other questions:
  • Choosing firm goals for your business
    10·2 answers
  • Amanda and Jeremy argue about the employment of children in tobacco farms in a certain part of the world. Jeremy is of the view
    5·1 answer
  • Which of the following statements is not correct regarding restitution?
    12·1 answer
  • Lauder Company had fixed costs of $282,500, variable costs of $645,000, and actual sales amounted to $1,100,000. If the company
    15·1 answer
  • Brainstorm a list of 10 action verbs. Use each of the action verbs to create a statement illustrating your qualifications.
    9·2 answers
  • Total surplus in a market is equal to a. value to buyers - amount paid by buyers. b. amount received by sellers - costs of selle
    7·1 answer
  • Kate is leasing some equipment from Ajax Leasing for a period of one year. Ajax pays the maintenance, taxes, and insurance costs
    13·1 answer
  • If a gourmet cooking store encourages customers to sample fresh baked apple pie in order to encourage purchases of pie pans and
    10·1 answer
  • Sue now has $125. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding
    9·1 answer
  • You are a business owner of a firm that services trucks. A customer would like to rent a truck from you for one week, while you
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!