Business, 13.12.2019 22:31 baltazmapa629n
The prince-robbins partnership has the following capital account balances on january 1, 2018: prince, capital $ 150,000 robbins, capital 140,000 prince is allocated 60 percent of all profits and losses with the remaining 40 percent assigned to robbins after interest of 6 percent is given to each partner based on beginning capital balances. on january 2, 2018, jeffrey invests $85,000 cash for a 20 percent interest in the partnership. this transaction is recorded by the goodwill method. after this transaction, 6 percent interest is still to go to each partner. profits and losses will then be split as follows: prince (50 percent), robbins (30 percent), and jeffrey (20 percent). in 2018, the partnership reports a net income of $24,000.
prepare the journal entry to record jeffrey’s entrance into the partnership on january 2, 2018. determine the allocation of income at the end of 2018.
Answers: 1
Business, 21.06.2019 16:20, HarleyHailey
Winston uses the high-low method. it had an average cost per unit of $10 at its lowest level of activity when sales equaled 10,000 units and an average cost per unit of $6.50 at its highest level of activity when sales equaled 20,000 units. what would winston estimate its total cost to be if sales equaled 8,000 units?
Answers: 3
Business, 21.06.2019 17:20, dixks
The following extract was taken from the worksheet of special events bakers for the year 2019. special events bakers worksheet december 31, 2019 account names cash equipment accumulated depreciation minus− equipment unadjusted trial balance debit credit $ 6 comma 800$6,800 15 comma 20015,200 $ 8 comma 500$8,500 adjusted trial balance debit credit $ 6 comma 800$6,800 15 comma 20015,200 $ 10 comma 000$10,000 for the above information, determine the amount of depreciation expense for the equipment used in the business
Answers: 3
Business, 22.06.2019 10:00, mayamabjishovrvq9
Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.
Answers: 2
The prince-robbins partnership has the following capital account balances on january 1, 2018: princ...
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