answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IrinaVladis [17]
2 years ago
14

The capital accounts of Harrison and Marti have balances of $160,000 and $110,000, respectively, on January 1, the beginning of

the current fiscal year. On April 10, Harrison invested an additional $20,000. During the year, Harrison and Marti withdrew $96,000 and $78,000, respectively, and net income for the year was $264,000. The articles of partnership make no reference to the division of net income. Based on this information, the statement ofBased on this information, the statement of partners' equity would show what amount in the capital account for Harrison on December 31?a.$164,000b.$216,000c.$52,000d.$380,000
Business
1 answer:
blagie [28]2 years ago
4 0

Answer:

b.$216,000

Explanation:

The computation of the balance in the capital account for Harrison is shown below:

= Opening balance + additional invested amount - withdrawn amount + net income distributed

= $160,000 + $20,000 - $96,000 + $132,000

= $216,000

We assume that the net income is equally distributed.

Since we have to determine for the Harrison only so we ignored the Marti data which is given in the question

You might be interested in
To raise operating funds, National Distribution Center sold its office building to an insurance company on January 1, 2018, for
storchak [24]

Answer:

Equipment 716,072.53 debit

  Lease payable   716,072.53 credit

interest expense 64,446.53 debit

   lease payable      64,446.53 credit

Explanation:

We record the lease payment present value:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 100,000.00

time 12

rate 0.09

100000 \times \frac{1-(1+0.09)^{-12} }{0.09} = PV\\

PV $716,072.5277

Now we solve for the interest accrued during the year

716,072.53 x 0.09 = 64.446,53

4 0
2 years ago
Chenault was a celebrity at American Express and is known for transforming the lives of many of his employees. Based on this per
andrew11 [14]

Answer:

<em>Inspirational Appeal</em>

Explanation:

Inspirational Appeal happens when <em>the traditional transition leader uses motivation mostly in downward fashion to affect maximum performance in a group.</em>

The leader ultimately ties the intended action or result to a set of principles and beliefs which the group honors.This panders to emotions, which are a primary motivating driver.

An instance is when a new leader shares their ambition for future success and not only receives assistance by doing so, but also sparks passion for significant change.

Motivation and inspiration often involves behavior modelling and example setting for someone else to pursue.

3 0
2 years ago
The lower a firm's inventory turnover, the longer it takes the firm to collect payment on its sales. a. faster the firm collects
Doss [256]

Answer:

The answer is C. longer inventory sits on the firm's shelves

Explanation:

The Inventory turnover is the number of times inventory is sold or used during a given period of time.

The formula is:

cost of goods sold/average inventory.

A lower inventory turnover means weak sales(declining sales) and excess inventory remaining in the warehouse while a higher inventory turnover means it is taking a firm short time to sell its goods(inventory)

4 0
2 years ago
Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. her boss asked her to calculate the ear
Viefleur [7K]
Darby's correct response is $0.045 per share.
Because we can calculate earnings per share by taking net income after taxes and then dividing it by the total number of common shares that are issued.
Income after taxes = <span>$2,000,000
shares = $44,000,000
Earnings per share = $2,000,000 / $44,000,000
=$2/$44
=$0.045</span>
3 0
2 years ago
Alton Company uses a process-costing system for its single product. Material A is added at the beginning of the process; in cont
Semenov [28]

Answer:

e. A, 6,000; B, 6,000.

Explanation:

At the beginning of the process Materials A are added. Therefore it won't matter if the process is 80% or less/more is complete, the materials A have already been added and would be equivalent to the ending work-in-process inventory i.e. 6,000 units.

Materials B are added when the units are 75% complete. Since the ending work-in-process are 80% complete, then this means that the Materials B equivalent to 6,000 units have already been added to the ending inventory.

Hence, both materials A and B have been added to the ending work-in-process inventory for 6,000 units. Therefore, option E is correct.

8 0
2 years ago
Other questions:
  • On August 4, Armstrong Trucking, Inc., paid $4,500 to replace the engine in one of its trucks. Complete the necessary journal en
    11·1 answer
  • Hillside issues $2,600,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31
    9·1 answer
  • Kettle Factory produces two similar products - gloves and mittens.
    8·1 answer
  • Maggie Stewart loves desserts. But, due to weight and cholesterol concerns, she has decided that she must plan her desserts care
    15·1 answer
  • Norwegian Cruise Lines controls the availability of prices by offering deals to specific groups of buyers based on all of the fo
    8·1 answer
  • David represents a potato chip company. he calls on supermarkets to discuss pricing and product placement. david is a(n) _____.
    11·1 answer
  • At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, No
    14·1 answer
  • On average, LB Inc. receives 138 payments each day with an average value of $42 each. These payments clear the bank in an averag
    13·1 answer
  • Reid Company is budgeting production of 100,000 units of product R for the month of September this year. Production of one unit
    11·1 answer
  • This problem Set is based on materials covered in modules 1 and 2. It is designed for you to demonstrate your understanding of b
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!