<u>Calculations of Net Income for the period (Assuming the Accrual Method of accounting):</u>
It is given that Revenue on account amounted to $4,400. Expenses for the period were $2,300.
The Net income for the period using the Accrual Method of accounting can be calculated with the help of following formula;
Net Income = Sales Revenue – Expenses
= 4400-2300
= 2100
Hence, the net income for the period is <u>$2,100</u>
Answer:
The United Nations
Explanation:
The united nations ensures peace and security to the world,which is the most important thing
Answer:
(A) Tangibles
Explanation:
Based on what Ryan is trying to accomplish, which is getting his customers to renew the lawn care service each year. He needs to demonstrate tangibles. Showing the customers that his service is done correctly, that it is neat and perfectly cut. Once the customers see that the job is done correctly and by professional personnel they will be more inclined on renewing the service.
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Answer:
BOP statistics.
Explanation:
Balance of payment statistics is used to record all the flow of goods, services, income, and capital from an economy to other economies. Balance of payment is a comparism between economic unit of a country and the same economic unit in other countries.
Todd, an analyst for the U.S. government, has been given the task of assessing the economic performance of Country X in the international marketplace. Todd will use the BOP statistics as a measure of country X's performance against other countries.
$410,000 goodwill should be recognized, and $270,000 is Darrow's beginning capital balance.
The implied value of the company is $900,000 ($270,000 ÷ 30%). Because the money is going to the partners rather than into the business, the capital total is $490,000 before realigning the balances. Hence, goodwill of $410,000 is recognized based on the implied value ($900,000 - $490,000). This goodwill is assumed to represent unrealized business gains and is attributed to the original partners according to their profit and loss ratio. They will then each convey 30 percent ownership of the $900,000 partnership to Darrow for a capital balance of $270,000.
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The question is incomplete. Please read below to find the missing content.
Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership:
William (40%) $220,000
Jennings (40%) $160,000
Bryan (20%) $110,000
Darrow invests $270,000 in cash for a 30 percent ownership interest. The money goes to the original partners. Goodwill is to be recorded. How much goodwill should be recognized, and what is Darrow's beginning capital balance?
