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= Opening balance + additional invested amount - withdrawn amount + net income distributed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

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Answer: Interest revenue for $2400

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From the question, we are informed that Bay Company acquires 60, 8%, 5 year, $1,000 Community bonds on January 1, 2014 for $60,000. The journal entry to record this investment includes a debit for Interest revenue for $2400.

This was calculated in the following way:

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2 years ago
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2 years ago
Answer the following question in your own words:
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C

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What sourcing category would the following items typically be classified in? Item A: high volume/value, low risk, multiple poten
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Explanation:

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Item B:

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2 years ago
A toll tunnel has decided to experiment with the use of a debit card for the collection of tolls. Initially, only one lane will
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Answer:

expect the customer to wait = 6.74  sec

1 car would expect to see in the system.

Explanation:

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solution

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so 1 car would expect to see in the system.

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