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lara31 [8.8K]
1 year ago
10

In the LMN partnership, Lynn's capital is $60,000, Marty's is $80,000, and Nancy's is $70,000. They share income in a 4:3:3 rati

o, respectively. Nancy is retiring from the partnership. Each of the following questions is independent of the others.
Refer to the above information. Nancy is paid $84,000, and no goodwill is recorded. What is Lynn's capital balance after Nancy withdraws from the partnership?
A. $68,000
B. $54,000
C. $53,000
D. $52,000
Business
1 answer:
Minchanka [31]1 year ago
4 0

Answer:

D. $52,000

Explanation:

As for the provided information,

We have,

Total capital of Nancy = $70,000

Payment to Nancy on retirement = $84,000

Since no goodwill is recorded any extra payment to Nancy will be debited against existing partner's capital account.

Amount debited against Lynn's Capital Account = ($84,000 - $70,000) \times 4/(4+3) = $8,000

Balance of capital after such payment of Lynn's capital account = $60,000 - $8,000 = $52,000.

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Answer:

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Explanation:

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Q_{opt} = \sqrt{\frac{2*4000*20}{4}}

Economic Order Quantity = 200

<em><u>How to Remember:</u></em>

Demand per year and order cost goes in the dividend.

Holding cost goes in the divisor.

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On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $27.70 per share. On March 1, a dividend of
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Explanation:

The calculation is shown below:

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c. Value of an account is

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A production facility is trying to determine the best batch size for an item that is produced intermittently. This item has an a
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Answer:

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Explanation:

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                 =20. p per day

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Each country may already have other cable TV companies that a percent of the market share and so this it becomes a challenge to compete with these domestic companies.

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