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babymother [125]

2 years ago

4

Warren and Liza were drafting the partnership agreement for their new home design and construction company.

1 answer:

andreev551 [17]2 years ago

3 0

Answer:

Since Warren and Liza were drafting their patnership agreement for their new home design and construction company, they should include the following:

B) Short- and long-term sales forecasts

C) Rights of the stockholders of the business

D) The amount of money each partner invests

Explanation:

Inclusion of the following above will help in the clarification of the information of what their individual stakes were in the company and what rights and privileges each of them has as a partner in the company that was to be established.

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On may 1, the cash account balance was $72,600. during may, cash receipts totaled $345,600 and the may 31 balance was $95,230. d

Sphinxa [80]

<span>$322,970 The expression for the cash balance at the end of the month is B = I + R - P where B = Balance at the end of the month. I = Initial balance at the beginning of the month. R = Receipts received during the month. P = Payments made during the month. So let's substitute the known values we have and solve for P B = I + R - P 95230 = 72600 + 345600 - P 95230 = 418200 - P 95230 + P = 418200 P = 322970 So the cash payments made were $322,970</span>

4 0

2 years ago

Cash Short and Over Entries 1. Based on the information, prepare the weekly entries for cash receipts from service fees and cash

Harrizon [31]

Answer:

Explanation:

The journal entries are shown below:

On April 2

Cash A/c Dr $266.50

Cash short and over A/c Dr $2

To service fees revenue A/c $268.50

(Being service fees revenue is recorded)

On April 9

Cash A/c Dr $233.50

Cash short and over A/c Dr $4.25

To service fees revenue A/c $237.50

(Being service fees revenue is recorded)

On April 16

Cash A/c Dr $311.00

To Cash short and over A/c Dr $1.75

To service fees revenue A/c $309.25

(Being service fees revenue is recorded)

On April 23

Cash A/c Dr $224.00

Cash short and over A/c Dr $2.50

To service fees revenue A/c $226.50

(Being service fees revenue is recorded)

On April 30

Cash A/c Dr $322.00

To Cash short and over A/c Dr $4.00

To service fees revenue A/c $318.00

(Being service fees revenue is recorded)

4 0

2 years ago

Adam and barb go to the store to purchase some lottery tickets. without looking at the price, adam says "i’ll take 10 lottery ti

Shtirlitz [24]

Answer:

Price elasticity of demand for Adam=0

Price elasticity of demand for Barb=1

Explanation:

Price elasticity of demand = %age change in demanded QTY / %age change in demanded price

The price is not important for Adam, and he demands a fixed quantity, hence his demand curve is vertical. A perfectly vertical demand curve is can inelastic demand curve and has price elasticity =0

The quantity is not important for Barb, and he demands a fixed price, hence his demand curve is horizontal. A perfectly horizontal demand curve is has price elasticity =1

6 0

3 years ago

How are manufacturing and non manufacturing location decisions similar? different?

iogann1982 [59]

<span>Location decisions are strategic decisions because they can have a significant impact on the success or failure of a business.</span><span>
Both manufacturing and non manufacturing location decision take costs and profits into consideration. </span>
Manufacturing firms are concerned with transportation costs, location of raw materials, energy and water availability .
Non manufacturing companies on the other hand are concerned with <span>convenience, access to markets and traffic flow.</span>

3 0

2 years ago

Marks Consulting purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of

Tasya [4]

Answer:

B) Debit to accumulated depreciation for $22,500.

Explanation:

As for the information provided,

Depreciation under straight line method for each year = ($45,000 - $5,000)/8 = $5,000 for each year.

Depreciation for 4 years = $5,000 $\times$ 4 = $20,000

Depreciation in 5th year for 6 months = $5,000/2 = $2,500

Total depreciation till 1 July Year 5 = $20,000 + $2,500 = $22,500

Carrying value of equipment in books as on date of sale = $45,000 - $22,500 = $22,500

Sale price = $20,000

Profit or loss on sale of equipment = $20,000 - $22,500 = - $2,500

So therefore, there is loss of $2,500

Thus, option c and option d are invalid.

Further cash received on sale is debited and not credited thus, option a is also invalid.

As the total accumulated depreciation = $22,500

The correct entry will include debit to accumulated depreciation of $22,500.

Thus, option b is correct.

6 0

2 years ago