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PilotLPTM [1.2K]
2 years ago
15

On July 1, Mabel and Pierre formed a partnership, agreeing to share profits and losses in the ratio of 4:6, respectively. Mabel

contributed a parcel of land that cost her $25,000. Pierre contributed $50,000 cash. The land was sold for $50,000 on July 1, four hours after formation of the partnership. How much should be recorded in Mabel's capital account on the partnership formation?A)$10,000.B)$25,000.C)$50,000.D)$20,000.
Business
1 answer:
MrMuchimi2 years ago
8 0

Answer:

C. $50,000

Explanation:

The computation of the Mabel's capital account after formation of the partnership account is shown below:

Total contribution by both the partners equals to

= Mabel contribution + Pierre contribution

= $25,000 + $50,000

= $75,000

Mabel contribution = Total contribution × Mabel share ÷ total share

                                = $75,000 × 4 ÷ 10

                                = $30,000

And, the land was sold for $50,000

So, Mabel share on the sale of land = $50,000  × 4 ÷ 10 = $20,000

Total amount recorded = $30,000 + $20,000 = $50,000

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Measures defined by management and used to internally evaluate the success of a​ firm's financial, business​ process, customer,
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Complete Question:

Measures defined by management and used to internally evaluate the success of a firm's financial, business process, customer, and learning and growth are called

A. parameters.

B. the balanced scorecard method.

C. BPM.

D. KPIs.

E. benchmarks.

Answer:

D. KPIs.

Explanation:

Measures defined by management and used to internally evaluate the success of a​ firm's financial, business​ process, customer, and learning and growth are​ called KPIs.

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2 years ago
First pension went so far as to ______________ to fool an employee who questioned company investments
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The answer to this question is <span>hire an actress to impersonate an auditor.
A word from an auditor will give more clearance and sense of safety toward a certain financial move.
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2 years ago
During a diversity management session, a manager suggests that stereotypes are a necessary part of working with others. "I have
hoa [83]

Answer: Stereotypes can have positive (merits) and negative (problems) traits attached to it.

Explanation:

A stereotype is an over generalized, predetermined belief about a category of individuals.

Merits:

Stereotypes can help to make a perception of someone, thus filling in missing information about that person.

Stereotypes can also place individuals into certain pre - established groups, which help to organize info much more efficiently.

Stereotypes can allow one to respond to problems quicker by applying past experiences that may seem similar to the current situation.

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5 0
2 years ago
Mountain Top Markets has total assets of $48,700, net working capital of $1,100, and retained earnings of $21,200. The firm has
spin [16.1K]

Answer: 2.63

Explanation:

The Market to Book ratio is also referred to as the price to book ratio. It is a financial evaluation of the market value of a company relative to its book value. It should be noted that the market value is current stock price of every outstanding shares that the company has while the book value is the amount that the company will have left after its assets have been liquidated and all liabilities have been repaid.

The market-to-book ratio will be the market price per share divided by the book value. It should be noted that the book value per share is the net worth of the business divided by the number of outstanding shares. The book value will be:

= [(12500 ×1) + $21200]/12500

= ($12500 + $21200)/$12500

= $33700/12500

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The market-to-book ratio will now be:

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6 0
2 years ago
Kiyara (single) is a 50 percent shareholder of Jazz Corporation (an S Corporation). Kiyara does not do any work for Jazz Corp. J
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Answer and Explanation:

a. The computation of Kiyara’s deduction for qualified business income is shown below:-

Kiyara's Share of income is

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b. The computation of Kiyara’s net investment income tax liability is shown below:-

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d. The computation of Kiyara’s additional Medicare tax liability is shown below:-

Additional medicare tax liability

= $282,000 - $200,000

= $82,000 × 0.9%

= $738

5 0
2 years ago
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