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dybincka [34]
2 years ago
15

Ben and Sam Jenkins formed a partnership. Ben contributed $8,000 cash and a used truck that originally cost $35,000 and had accu

mulated depreciation of $15,000. The truck’s fair value was $16,000. Sam, a builder, contributed a new storage garage. His cost of construction was $40,000. The garage has a fair value of $55,000. What is the combined total capital that would be recorded on the partnership books for the two partners?
Business
1 answer:
Airida [17]2 years ago
3 0

Answer:

The combined total capital that would be recorded on the partnership books for the two partners is $79,000

Explanation:

Partnership : In partnership, there are two or more members who are called partners which are ready to share the profit or loss percentage according to their agreed ratio

The combined total capital for both partners is shown below:

= Contributed cash + truck fair value + garage fair value

= $8000 + $ 16,000 + $55,000

= $79,000

The other cost like purchase price, depreciation, construction cost is irrelevant for computation. Thus, these cost will not be considered.

Hence, the combined total capital that would be recorded on the partnership books for the two partners is $79,000

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When a development team is having trouble delivering a working increment because they don't understand a functional requirement?
Aleksandr [31]
If a developmental team is having trouble delving a working increment because they don't understand a functional requirement, they should work with the product owner so that can get better clarification on how the product works. If the developmental team continues to have problems, it is likely the result of the product that has functional issues. 
8 0
2 years ago
XARA is a newly emerging wine company. After extensive market research, XARA divides its market into wine enthusiasts, casual dr
PilotLPTM [1.2K]

Answer: segmentation

Explanation:

Market segmentation is when a business market that is made up of different customers is being divided, into smaller groups or segments based on some characteristics.

From the question, we are informed that XARA is a newly emerging wine company. After extensive market research, XARA divides its market into wine enthusiasts, casual drinkers and restaurants. Each category has its own needs, traits and marketing goals. In this scenario, XARA is using market segmentation.

4 0
1 year ago
"Preemptive rights" means that Multiple Choice existing shareholders can prevent management from issuing additional common stock
Ymorist [56]

Answer:

Preemptive rights mean:

  • existing shareholders are guaranteed an opportunity to retain their proportional share of ownership.
  • management can preempt the right of shareholders to receive dividends if earnings are down.

Explanation:

Preemptive rights are a clause in an option, security or merger agreement that gives the investor the right to maintain his or her percentage ownership of a company by buying a proportionate number of shares of any future issue of the security.

In that case,

  • existing shareholders are guaranteed an opportunity to retain their proportional share of ownership.
  • management can preempt the right of shareholders to receive dividends if earnings are down.
6 0
1 year ago
Read 2 more answers
Assume that a pure monopolist and a purely competitive firm have the same unit costs. In this case, determine what is true with
grandymaker [24]

Answer:

a. 1, 5 and 7

b. Resources will be allocated inefficiently

c. Differing sizes and capacities

d. Benefits due to economies of scale

e. Reduce prices and improve resource allocation.

Explanation:

The correct combination is 1, 5 and 7. The price of a pure monopoly firm is much higher than that of purely competitive firm because the later is a price taker while the former is a price fixer. Because of this, output of monopoly is lower while the profit margin is higher than that of competitive firm.

Assuming that a pure monopolist and a purely competitive firm have the same unit costs. In the case of a pure monopolist, resources will be allocated inefficiently because the monopolist does not produce at the point of minimum Average Total Cost and does not equate price and Marginal cost.

Even though both monopolists and competitive firms follow the MC = MR rule in maximizing profits, there are differences in the economic outcomes because pure competitors lack capacity and are smaller in size while the monopolist has the capacity to expand inorder to maximize profits.

The costs of a purely competitive firm and a monopoly may be different because the monopolist is capable of taking advantage of cost reduction arising from economics of scale. Pure competitors does not experience economies of scale due to their small sizes.

If a monopoly can experience economies of scale, it can reduce prices beyond that of the pure competitor thereby ensuring a more efficient resource allocation.

5 0
2 years ago
From the ledger balances given below, prepare a trial balance for the Amaro Company at June 30, 2020. All account balances are n
prohojiy [21]

Answer:

Amaro Company

Trial Balance

June 30, 2020

                                                            Debit                             Credit

Cash                                                   $ 5800                                 $

Accounts Receivable                            $ 3000                             $

Equipment                                            $17,000                              $

Accounts Payable                                     $                                 $  8100

Cleland, Capital                                         $                                $ 15,000

Cleland, Drawing                                     $ 1200                              $    

Service Revenue                                             $                              $ 10,000

Salaries Exp                                                 $5100                              $

<u>Rent Expense                                              $ 1000                             $ </u>

<u> Total                                                           </u><u> $ 33,100                    $ 33,100</u>

Trial balance is a list of all ledger accounts and cash book.

It can be prepared any time during the accounting period.

The debit and credit side of the trial balance are equal.

Expenses are debited . Drawing is an expense therefore it is debited.

3 0
1 year ago
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