Answer:
This question is incomplete, here's the complete question:
Irene Watts and John Lyon are forming a partnership to which Watts will devote one half time and Lyon will devote full time. They have discussed the following alternative plans for sharing income and loss: (a) in the ratio of their initial capital investments, which they have agreed will be $42,000 for Watts and $63000 for Lyon; (b) in proportion to the time they devote to the business; (c) a salary allowance of $6,000 per month to Lyon and the balance in accordance with the ratio of their initial capital investment; or (d) a salary allowance of $6000 per month to Lyon, 10% interest on their capital investments, and the balance shared equally. The partners expect the business to perform as follows: year 1, $36,000 net loss; year 2, $90,000 net income; and year 3, $150000 net income.
Required
Prepare three tables with the following column headings.
Year______
Income (Loss)----------------------------------------------------------------------------------------------
Sharing Plan Calculations Watts Lyon
Explanation:
in order to present a detail answer in a step by step explanatory answer for the three year, there's a need to build a diagram which will be used to render our explanation in a clear and precise manner.
kindly check the attached image below to see the full answer rendered in a detailed diagram for the three years.
Answer:
A) inelastic demand
Explanation:
Demand is inelastic if a change in price has no effect on quantity demanded.
Changes in price has no effect on quantity of leather demanded. Therefore, the demand for leather is inelastic.
Direct purchasing is buying raw materials used in the production process.
Straight rebuy is purchasing similar goods from the same supplier under similar conditions.
Modified rebuy is purchasing similar goods either from a different supplier or in a different condition.
Answer:
The correct answer is number (1): True.
Explanation:
Due diligence refers to the exercise an individual is subject to after entering a contract with another party by which a certain standard of care is expected from the individual.
The United States Sentencing Commission is the governmental agency in charge of reviewing sentences discrepancies and promoting fair sentencing.
<em>In front of ethical issues within a firm, the U.S. Sentencing Commission states that the company must have disseminated a code of conduct so that the filing company can allege a violation of the due diligence employees are subject to.</em>
Answer:
Jacob made a mistake at the Initiation stage of the project management process
Explanation:
The initiation stage is the first stage in every project cycle. It is the stage of defining the objectives, scope, purpose and deliverable to be produced.
If this stage of project management had been well managed the project might not have failed because the employees would have been guided on the trends to follow to achieve the various goal and objectives set for each projects.
Answer:
Net Purchases = Cost of goods sold - Decrease in Inventory
= $308,000 - $16,500
= $291,500
Cash paid to Suppliers = Net Purchases + Decrease in accounts Payable
= $291,500 + $13,500
= $305,000
The summary entry is as follows:
Merchandise Inventory A/c Dr. $291,500
Accounts payable A/c Dr. $13,500
To cash $305,000
(To record the amount of cash paid to merchandise suppliers during 2018)
